The fashion company behind the Cecil and Street One brands was able to increase its revenues in the past financial year. Wholesale and the company’s own stores in particular contributed to this result.
Sales grew by 19 percent to 642 million euros in 2022. This is shown by an excerpt of the business figures, which the CBR Fashion Group made available to FashionUnited on request. The Isernhagen-based company was thus already above the level of 2019, when revenues were still 606 million euros.
“We are very satisfied with the result and were able to demonstrate on all channels that the Street One and Cecil brands are generating sustainable income in wholesale as well as in online and offline business despite the corona restrictions at the beginning of 2022,” the company announced on Monday.
Gross profit not yet at pre-pandemic levels
The wholesale business developed strongly in the past financial year: sales climbed by 22 percent to EUR 417 million. The proceeds from the company’s own shops and outlets increased by 38 percent to 65 million euros.
CBR’s business channels developed in a similar way to the rest of fashion retail, which has recently seen an increase in customers in brick-and-mortar stores. On the other hand, online sales growth slowed, including at CBR. Income from e-commerce increased by 5 percent to 160 million euros in 2022. In the previous year, these rose by 23 percent to 152 million euros.
In terms of results, CBR has yet to surpass 2019 levels. Adjusted earnings before interest, taxes, depreciation and amortization were 136 million euros in the past financial year, around 8 percent more than in the previous year. The Ebitda in 2019 was 153 million euros.