Adler Modemärkte Q1 sales decline 5.5 percent

Adler Modemärkte AG started the 2018 financial year with a decline in sales and earnings. The company said, against the background of a continued weak industry environment, sales amounted to 102.7 million euros (122.5 million dollars), 5.5 percent below the previous year's level. On a like-for-like basis, the decline was 6.2 percent. Gross profit fell by 5 percent to 50.1 million euros (59.7 million dollars), while the gross margin increased slightly to 48.8 percent against 48.5 percent last year.