Ahlers posts 13.2 percent drop in Q1 sales
7 Apr 2020
Sales revenues in the first quarter of 2019/20 at Ahlers Ag, the company said, were mainly influenced by the discontinuation of sales of Pierre Cardin and Pioneer ladies’ trousers as well as Jupiter jackets, which sent sales revenues falling by 3.2 million euros or 5.4 percent. Moreover, the company added, delayed jeans deliveries amounted to drop of 3.3 million euros or 5.6 percent. Also, the company further said that the other operations were unable to defy the declining market trend and resulted in revenue decrease by 1.3 million euros or 2.2 percent. All these factors sent group sales revenues falling by 7.8 million euros or 13.2 percent to 51.2 million euros (55.6 million dollars).
“Since mid-March at the latest, the global economy has been turned upside down. Due to the coronavirus pandemic, clothing retailers across Europe have been ordered to close their stores. We therefore expect major burdens that will reduce sales revenues and earnings in the current fiscal year. A reliable forecast for the full fiscal year 2019/20 is currently not possible. In this difficult situation, we benefit from our solid balance sheet structure and high equity ratio,” said Dr. Stella A. Ahlers, CEO of Ahlers AG.
In the first three months, Ahlers further said, lower revenue was the main reason for 4.6 million euros decline in gross profit to 26.3 million euros (28.5 million dollars). Also the shortfall in revenues from the sale of jeans and the resulting gross profits was the main reason for the decline in EBIT from 3.3 million euros to 1.5 million euros (1.6 million dollars), a drop of 55 percent.
Picture:Pioneer Jeans press room