DGAP-News

CORRECTION NOTIFICATION: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK records improved earnings and a 1.1% gain in sales for the 1st nine months of 2014 - Textile retail sector ends with a negative growth

DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key
word(s): 9-month figures/Quarter Results
CORRECTION NOTIFICATION: Ludwig Beck am Rathauseck-Textilhaus
Feldmeier AG: LUDWIG BECK records improved earnings and a 1.1% gain in
sales for the 1st nine months of 2014 - Textile retail sector ends
with a negative growth

21.10.2014 / 10:09

---------------------------------------------------------------------

CORRECTION NOTIFICATION - Corporate News

LUDWIG BECK records improved earnings and a 1.1% gain in sales for the 1st
nine months of 2014 - Textile retail sector ends with a negative growth

Munich, October 21, 2014 - Munich Fashion Group LUDWIG BECK (ISIN DE
0005199905) ends the 3rd quarter of the 2014 fiscal year with a slight
increase in sales. According to TextilWirtschaft, German fashion retail
sales slipped 1.0% in the same period.

Development of sales
In the 1st nine months of the report year, the LUDWIG BECK Group achieved
gross sales of EUR 69.2m (previous year: EUR 68.5m), a 1.1% gain. Thus the
Group was able to, at least partially, elude the overall sector trend. The
online store at www.ludwigbeck.de in particular was successful.

The absence of tourists from Eastern Europe, due to crises, had a
noticeable effect. Their buying power used to be a long-established and
stable contributor to sales at the Marienplatz flagship store. Prolonged
construction on the lower floor and in front of the entrance of the subway
and tram station at Marienplatz has further restricted customer traffic as
well. Overall, LUDWIG BECK is currently experiencing the influence that
international crises, negative economic forecasts and health threat
scenarios are having on consumer confidence.

Earnings situation
Gross profits moved laterally and reached the amount of EUR 28.6m (previous
year EUR 28.7m). Thus the gross profit margin was at 49.1% (previous year:
49.8%). Here, the clearance sale in Men's Fashion, which increased cost of
goods, came to bear. Before remodeling in the department began, additional
discounts were granted to ensure the complete liquidation of all seasonal
inventories.

Absolute expenses against corresponding income of EUR 23.9m were higher
than in the previous year with EUR 23.3m. The expense ratio was 41.0%
compared to 40.4% in the previous year. The cost increase is mostly
attributed to a rise in personnel costs in connection with a 6.5% wage
increase implemented in the 1st half of 2013. Another factor was increased
other operating expenses associated with the execution of the will of the