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Gerry Weber International AG (GWIG.DE)

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Latest Key Developments (Source: Significant Developments)

Gerry Weber Reaches Collective Wage Agreement
Friday, 5 Apr 2019 

April 5 (Reuters) - Gerry Weber International AG ::DGAP-NEWS: GERRY WEBER REACHES AGREEMENT ON KEY ASPECTS FOR FUTURE-SECURING COLLECTIVE WAGE AGREEMENT AS WELL AS RECONCILIATION OF INTERESTS AND SOCIAL PLAN.NEXT MILESTONE IN ONGOING RESTRUCTURING AND REPOSITIONING PROCESS.CLOSURE OF AROUND 120 STORES AND SALES SPACES IN GERMANY.REDUNDANCY OF 454 FTE IN GERMANY.CORRESPONDING AGREEMENTS WERE SIGNED FOR EMPLOYEES OF GERRY WEBER INTERNATIONAL AG (GWI) AND GERRY WEBER RETAIL GMBH & CO. KG (GWR), AS WELL AS EMPLOYEES OF LIFE-STYLE FASHION GMBH (WHOLESALE BUSINESS).AGREEMENTS GOVERN FUTURE COLLECTIVE WAGE AGREEMENT TO SECURE FUTURE OF GERRY WEBER, AS WELL AS RECONCILIATION OF INTERESTS AND SOCIAL PLAN FOR IMPLEMENTATION OF PLANNED RESTRUCTURING MEASURES.MEASURES IN LINE WITH AGREEMENTS WILL BE IMPLEMENTED IMMEDIATELY AND ARE EXPECTED TO CONTINUE UNTIL PLANNED CLOSURE OF REPOSITIONING BY END OF 2021.COMPANY CONTINUES TO FOLLOW ITS INITIAL RESTRUCTURING PLAN, WHICH INCLUDES PLANNED CLOSURE OF AROUND 180 STORES (EXCLUDING HALLHUBER) AND REDUNDANCY OF A CORRESPONDING NUMBER OF FTE ACROSS EUROPE.  Full Article

Adhoc Gerry Weber International AG Gerry Weber International AG Arranges Bridge Loan
Thursday, 7 Feb 2019 

Feb 7 (Reuters) - Gerry Weber International AG ::DGAP-ADHOC: GERRY WEBER INTERNATIONAL AG: GERRY WEBER INTERNATIONAL AG ARRANGES BRIDGE LOAN AND GRANTS PURCHASE OPTION FOR HALLHUBER GMBH.SAYS GERRY WEBER INTERNATIONAL AG ARRANGED A BRIDGE LOAN OF EUR 10 MILLION FOR SUBSIDIARY HALLHUBER GMBH WITH AN INVESTOR.WITH PROCEEDS FROM BRIDGING LOAN, ONGOING BUSINESS OPERATIONS OF HALLHUBER ARE SAFEGUARDED FOR TIME BEING.SAYS AT SAME TIME, A PURCHASE OPTION FOR HALLHUBER GMBH WAS GRANTED.INVESTOR ACQUIRES RECEIVABLES OF GERRY WEBER GROUP COMPANIES AGAINST HALLHUBER, LARGELY ALREADY SUBORDINATED, AT PURCHASE PRICE OF ABOUT EUR 1 MILLION.IN CASE OF EXECUTION, GERRY WEBER EITHER RETAINS A 14 % STAKE IN HALLHUBER OR, ALTERNATIVELY RETAINS A 12% STAKE PLUS PURCHASE PRICE OF EUR 500,000.  Full Article

Gerry Weber International Negotiates Bridging Loan And Possible Purchase Option For Hallhuber GmbH
Thursday, 7 Feb 2019 

Feb 7 (Reuters) - GERRY WEBER INTERNATIONAL AG ::NEGOTIATES BRIDGING LOAN AND POSSIBLE PURCHASE OPTION FOR HALLHUBER GMBH.A PURCHASE OPTION FOR HALLHUBER GMBH IS NEGOTIATED.ONGOING OPERATIONS OF HALLHUBER GMBH ARE INTENDED TO BE SAFEGUARDED UNTIL FURTHER NOTICE.  Full Article

Gerry Weber International To Reduce Workforce Of Up To 900 Jobs
Friday, 25 Jan 2019 

Jan 25 (Reuters) - GERRY WEBER INTERNATIONAL AG ::ENTERS INTO PRELIMINARY INSOLVENCY PROCEEDINGS UNDER SELF-ADMINISTRATION.RESTRUCTURING IS DRIVEN FORWARD WITH INCREASED PACE.CLOSURE OF AROUND 230 RETAIL SPACES.SIGNIFICANT REDUCTION OF WORKFORCE EQUALING OF UP TO 900 JOBS.  Full Article

Gerry Weber Adjusts Prelim FY Results
Monday, 14 Jan 2019 

Jan 14 (Reuters) - Gerry Weber International AG ::ADJUSTS PRELIMINARY RESULTS FOR FINANCIAL YEAR 2017/18.FY EBIT INCLUDING NON-CASH PROVISIONS FOR RESTRUCTURING MEASURES AS WELL AS CONSULTING COSTS AMOUNTS TO A LOSS OF EUR 192.3 MILLION.FY EBIT EXCLUDING NON-CASH PROVISIONS FOR RESTRUCTURING MEASURES AS WELL AS CONSULTING COSTS AND EXTRAORDINARY DEPRECIATION AS WELL AS WRITE-DOWNS IS A OF EUR 15.5 MILLION.  Full Article

Gerry Weber: Promissory Note Loan Providers Grant Deferment Until Jan 2019
Tuesday, 13 Nov 2018 

Nov 13 (Reuters) - GERRY WEBER INTERNATIONAL AG ::PROMISSORY NOTE LOAN PROVIDERS GRANT DEFERMENT UNTIL JANUARY 2019.IN PARALLEL, FINANCING BANKS KEEP THEIR CREDIT LINES OPEN FOR GERRY WEBER.NOW EXPECTS SALES OF UP TO 790 EUR MILLION (PREVIOUSLY: BETWEEN 830 AND 840 EUR MILLION).SEES SIGNIFICANT OPERATIONAL LOSSES ON EBIT IN FY (PREVIOUSLY: BETWEEN -10 AND 0 EUR MILLION).  Full Article

Gerry Weber International 9Mth Adj. EBITDA Down At EUR 31.0 Mln
Thursday, 13 Sep 2018 

Sept 13 (Reuters) - GERRY WEBER INTERNATIONAL AG ::9MTH SALES AT EUR 575.1 MILLION (PREVIOUS YEAR: EUR 620.1 MILLION).9MTH EBIT AT EUR -9.8 MILLION (PY: EUR 0.2 MILLION).9MTH ADJUSTED EBITDA LOWERED TO EUR 31.0 MILLION (PREVIOUS YEAR: EUR 36.1 MILLION).  Full Article

Gerry Weber International Reorganises Strategic Business Unit Gerry Weber
Friday, 20 Jul 2018 

July 20 (Reuters) - GERRY WEBER INTERNATIONAL ::SAID ON THURSDAY IT WILL REORGANISE STRATEGIC BUSINESS UNIT GERRY WEBER.GERRY WEBER UNIT WILL BE RUN AS CATEGORY MANAGEMENT ORGANISATION WITH IMMEDIATE EFFECT.AS OF SEPTEMBER GERRY WEBER UNIT WILL BE LED BY RENA MARX AND PETER KROSTA .  Full Article

Gerry Weber FY EBIT Down At EUR 10.3 Mln​
Tuesday, 27 Feb 2018 

Feb 27 (Reuters) - Gerry Weber ::FY ‍SALES REVENUES OF EUR 880.9 MILLION (PREVIOUS YEAR: EUR 900.8 MILLION)​.FY ‍EBIT REPORTED OF EUR 10.3 MILLION (PREVIOUS YEAR: EUR 13.8 MILLION)​.‍EXPECTS TO GENERATE ALMOST STABLE GROUP REVENUES OF EUR 870 MILLION TO EUR 890 MILLION IN FISCAL YEAR 2017/18​.‍PROJECTS CONSOLIDATED EBIT (REPORTED) OF BETWEEN EUR 10.0 MILLION AND EUR 20.0 MILLION FOR FISCAL YEAR 2017/18​.‍CONSOLIDATED NET LOSS OF EUR 0.8 MILLION FOR FISCAL YEAR 2016/17 (PREVIOUS YEAR: NET PROFIT OF EUR 0.5 MILLION)​.  Full Article

Gerry Weber Decides New Managing Board Structure
Wednesday, 21 Feb 2018 

Feb 21 (Reuters) - GERRY WEBER ::DGAP-ADHOC: GERRY WEBER: SUPERVISORY BOARD DECIDES NEW MANAGING BOARD STRUCTURE AND COMMISSIONS MANAGING BOARD TO DEVELOP A PERFORMANCE PROGRAMME FOR A SUSTAINABLE INCREASE IN PROFITABILITY.‍APPOINTMENT OF JÖRG STÜBER AS CHIEF FINANCIAL OFFICER EXTENDED​.JOHANNES EHLING APPOINTED CHIEF SALES OFFICER AND CHIEF DIGITAL OFFICER ALREADY EFFECTIVE 1 APRIL 2018.PROJECTS GROUP REVENUES OF BETWEEN EUR 870 MILLION AND EUR 890 MILLION FOR FISCAL YEAR 2017/18.EBIT REPORTED EXPECTED TO COME IN AT BETWEEN EUR 10 MILLION AND EUR 20 MILLION.ASSUMES FURTHER EXTRAORDINARY EFFECTS IN FY 2017/18​.  Full Article