Adler Modemärkte, a textile retail chain in Germany, has reported 26.1 per cent decline in its revenue to €73.2 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to €99.3 million in same period last year. EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter reported loss of €12.8 million.
Adler Modemärkte, a textile retail chain in Germany, has reported 26.1 per cent decline in its revenue to €73.2 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to €99.3 million in same period last year. EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter reported loss of €12.8 million.#
Gross profit for Q1 FY20 fell 27.7 per cent to €35.5 million (€49.1 million). Consolidated net loss for the quarter was €22.6 million (€13.3 million).
Adler Modemärkte, a textile retail chain in Germany, has reported 26.1 per cent decline in its revenue to €73.2 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to €99.3 million in same period last year. EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter reported loss of €12.8 million.#
As the spread of Covid-19 gathered pace, the authorities gradually closed all the Adler’s 171 stores in Germany, Austria, Luxembourg and Switzerland between March 16-18, 2020, as company reported in a press release. However, a large number of the 142 stores in Germany have opened since April 20, many of them subject to the provision. Adler’s 24 stores reopened in Austria on May 2.
ALCHEMPro News Desk (JL)
marketing@alchempro.com
