Wednesday, April 13, 2016

Gerry Weber report Q1 2016


Gerry Weber, Q1, 2016, front page

Due to my mistake this report arrives in quick succession to the annual report and therefore the conclusion regarding the share price development has not changed. The company is not doing well and I would like to mention once again the comment my mother said last autumn (ok, it is a new season now so things can have changed) when we entered the store... "it looks as if the cloths are for old women!". My mother is 70 years old and from this I must then conclude two things. One: I really have no clue who buys cloths at Gerry Weber. Two: Retired women today considers, apparently feels and obviously acts and wears cloths that are targeted towards younger customers.


To see the report in full please go here to take a look at the previous summary then please click on Gerry Weber annual report 2015 and to find out more regarding Gerry Weber please visit analysis of Gerry Weber 2016.

The financial highlight below is not much of a highlight. One can very coldly conclude that without the take over of Hallhuber than last year AND this one would have been a complete disaster and now they are barely able to keep their nose above the water level. In the Q1 2015 Hallhuber was not part of Gerry Weber which is why there are some figures looking much better such as the increased sales. A good thing is however the decrease in Cost of Materials. Going down in the table then in the end we see that Q1 gave us 1.2 M € compared to 10.5 M € in 2015 which is almost -90% and yeah, that is bad guys!


Gerry Weber, Q1, 2016, financial statement


The really bad part is that the major problem is not coming from the Hallhuber part but from the core Gerry Weber part of the business. They need to sort out things and to get the business back on track and they need to do this quickly!

Conclusion: Gerry Weber is bleeding and they had a seriously bad first quarter which means November to January for Gerry Webers broken accounting year. This period almost every retailer complained about bad revenue and lowered margins due to all they had to push out on sales of the winter cloths. I will remain as grumpy shareholder in Gerry Weber.

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