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DGAP-Adhoc: GERRY WEBER decides to implement new Performance Programme and updates the forecast for 2017/18 to reflect the program's effects on revenues and earnings

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DGAP-Ad-hoc: Gerry Weber International AG / Key word(s): Forecast
GERRY WEBER decides to implement new Performance Programme and updates the
forecast for 2017/18 to reflect the program's effects on revenues and

13-Jun-2018 / 18:14 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Ad-hoc announcement pursuant to section 17 MAR

*GERRY WEBER decides to implement new Performance Programme and updates the
forecast for 2017/18 to reflect the program's effects on revenues and
earnings *

(Halle/Westphalia, 13 June 2018) The Supervisory Board of GERRY WEBER
International AG today approved the programme of measures developed to
achieve a sustainable increase in profitability. On 21 February 2018, GERRY
WEBER International AG had already announced the development of this
comprehensive Performance Programme. The measures that are associated with
this programme and have now been adopted will change the company's business
model; more specifically, they are designed to match the flow of merchandise
more effectively to actual requirements, to streamline structures and to
focus the organisation on its core competencies. In the current financial
year 2017/18, these measures will lead to higher-than-expected extraordinary
charges of roughly EUR 15 million and to a shift in revenues to the next
financial year. Moreover, sales revenues in the GERRY WEBER Retail segment
will be slightly lower than expected in the current financial year.

Against this background, the Managing Board of GERRY WEBER International AG
has revised the forecast for the financial year 2017/18. The company now
projects revenues of EUR 830 million to EUR 840 million (previously EUR 870
million to EUR 890 million) and consolidated earnings before interest and
taxes (EBIT) of EUR -10 million to EUR 0 (previously EUR 10 million to EUR
20 million) million for the current financial year.

Based on the Performance Programme, the company aims to increase its sales
revenues significantly and more strongly than the market in the next three
to five years and to save total costs in the medium double-digit million
range. As a result, the company anticipates to generate additional potential
of up to EUR 35-40 million p.a. for its operating result (EBIT) within the
next three to five years.

The Managing Board will disclose further details of the Performance
Programme and the forecast for the financial year in the report on the first
six months of 2017/18.

Admitted to the Regulated Market of the Frankfurt Stock Exchange (Prime
ISIN: DE0003304101
WKN: 330410

13-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Gerry Weber International AG
Neulehenstraße 8
33790 Halle/Westfalen
Phone: +49 (0)5201 185-0
Fax: +49 (0)5201 5857
E-mail: info@gerryweber.com
Internet: www.gerryweber-ag.de
ISIN: DE0003304101
WKN: 330410
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Stuttgart, Tradegate

End of Announcement DGAP News Service

695217 13-Jun-2018 CET/CEST

(END) Dow Jones Newswires

June 13, 2018 12:14 ET ( 16:14 GMT)

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