Store closures hit Gerry Weber's sales, Florian Frank takes over as CFO

The business performance of Gerry Weber International AG in the first nine months of 2020, the company said in a statement, was still strongly influenced by the global spread of the coronavirus pandemic, with almost all points of sale remaining closed from mid-March 2020. Furthermore, the company as a part of its insolvency proceedings under self-administration, closed 205 company-managed points of sale in Germany and abroad and the total number of POS was reduced to 593 as of September 30, 2020. Additionally, the company added that the number of franchised wholesale spaces declined by 422 to 2,015 during the period under review impacting revenues.