HAMBURG (dpa-AFX) – The net trend retailer About You continues to wrestle in opposition to the tough inflationary market setting and weak shopper confidence. The Hanseatic firm managed to proceed rising in its fiscal third quarter, however plunged additional into the pink in comparison with the earlier 12 months. On the one hand, excessive prices and lots of low cost campaigns impacted, but in addition investments in development initiatives, as the corporate introduced in Hamburg on Tuesday.
Within the three months to the top of November, Group gross sales rose eight.three p.c year-on-year to simply beneath 555 million euros. Nonetheless, earnings earlier than curiosity, taxes, depreciation and amortization, adjusted for distinctive gadgets, deteriorated to minus 43.1 million euros. A 12 months in the past, the determine was lower than 30.5 million euros. The ultimate loss elevated to €62 million, in comparison with a lack of just below €40 million a 12 months in the past.
The previous firm SDax needed to exit the index of smaller shares in December after an enormous drop within the share worth on the inventory market. Again within the fall, About You had lowered its forecasts for the fiscal 12 months resulting from subdued shopper sentiment; administration has now confirmed them.
In the meantime, the style retailer has initiated countermeasures in stock and logistics, in addition to turned the price screw on workforce planning and advertising and marketing. These steps have already paid off within the final quarter, it added. Subsequently, co-founder and co-CEO Tarek Müller continued to specific his confidence in breaking even when it comes to adjusted working earnings within the upcoming fiscal 12 months 2023/24, based on the assertion./tav/tih/mis