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    DGAP-News  206  0 Kommentare Adler Modemärkte AG: Revenue up 5.5% in first nine months of the year


    DGAP-News: Adler Modemärkte AG / Key word(s): 9-month figures/Quarter
    Results
    Adler Modemärkte AG: Revenue up 5.5% in first nine months of the year

    12.11.2015 / 07:30

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    ADLER continues to significantly outpace the industry / Outlook for 2015
    confirmed overall

    Haibach near Aschaffenburg, 12 November 2015: Adler Modemärkte AG - one of
    Germany's largest textile retailers - continued successfully along its
    growth path in the first nine months of 2015, again bucking the gloomy
    industry trend. Consolidated revenue increased by 5.5% to EUR 398.6
    million, while revenue throughout the German textile retail industry fell
    by 2%. On a like-for-like basis, ADLER achieved slight growth of 0.1%.
    Third-quarter revenue grew even more significantly, by 6.8% to EUR 130.2
    million. Like-for-like growth amounted to 1.8% here.

    "ADLER is a strong brand with a successful strategy and strict cost
    management. This is why we are growing even in the currently consolidating
    industry environment", said Lothar Schäfer, CEO of Adler Modemärkte AG.
    "Thanks to our solid financial capabilities, we will continue to expand our
    competitive stance strategically through new store openings."

    Ramp-up costs for acquired stores reduce earnings as projected
    In the first nine months of the year, ADLER added a total of twelve new
    stores to its sales and distribution network. Along with the eight stores
    acquired from Kressner at the beginning of the year, which are now trading
    under the name ADLER Orange, these new stores included the two former hefa
    stores in Mömlingen and Lollar, as well as two newly opened stores.
    Integration costs for the new stores reduced earnings in the first nine
    months of the year, as did business with concessionary suppliers which
    remained significantly below expectations as well as increased marketing
    expenses.
    Cost of materials increased due to the above-average increase in costs of
    goods sold by 9% to EUR 188.6 million for the new stores, and gross profit
    increased by 3% to EUR 210.1 million. The gross profit margin amounted to
    52.7% (as compared to 54.2% in the same period of the previous year). The
    increase in personnel expenses of 8.5% to EUR 77.0 million was attributable
    in particular to the acquisition of the Kressner and hefa stores. Severance
    packages and staff restructuring measures resulted in extraordinary
    expenses for ADLER Orange amounting to EUR 1.1 million.

    The increase in expenses led to the expected decrease in earnings before
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    DGAP-News Adler Modemärkte AG: Revenue up 5.5% in first nine months of the year DGAP-News: Adler Modemärkte AG / Key word(s): 9-month figures/Quarter Results Adler Modemärkte AG: Revenue up 5.5% in first nine months of the year 12.11.2015 / 07:30 --------------------------------------------------------------------- ADLER …