The Braunschweig-based fashion chain and multichannel retailer New Yorker has published its consolidated financial statements for the 2020 financial year and calendar year. Accordingly, the company generated net consolidated sales of 1.73 billion euros in the corona year, around 13 percent less than in the previous year (1.98 billion euros). According to the company, the decline is essentially due to the negative effects of the pandemic, and in particular the officially ordered closings. This was exacerbated to a small extent by negative currency effects – for example in Russia. New Yorkers did better than the industry average in the crisis year, the company said.
In 2020, despite the extremely difficult market and business conditions, the chain store generated clearly positive earnings before taxes of EUR 255 million (previous year: EUR million). According to the company, the downward trend is solely due to the COVID-19 pandemic.
For 2021, the unlisted company expects sales at or slightly above the level of 2020. However, the trading margin is expected to decline slightly. Due to the pandemic, a decline in the pre-tax return and pre-tax earnings in the lower double-digit percentage range is also to be expected, according to the company. The number of branches is to be increased slightly despite the difficult market environment.
At the end of the 2020 financial year, the New York fashion range was sold in more than 1,100 stores in 46 national markets. The branch network was thus slightly expanded by 22 branches even under difficult conditions. The sales area operated rose by around 2.5 percent. As in previous years, individual branches were specifically closed in the 2020 financial year. The internationalization rate, i.e. the sales area abroad in relation to the total sales area, rose to around 77 percent.