The textile discounter Adler Modemarken GmbH achieved a solid increase in sales in Germany in the 2023 financial year despite adverse conditions. The retailer also made progress in terms of earnings. This emerges from a statement that the company, which has been part of the Zeitfracht conglomerate since 2021, published on Monday.
Accordingly, sales in Germany amounted to 296.7 million euros last year and exceeded the 2022 level by 11.9 percent. Earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects rose from 3.8 to 6.1 million euros. Adjusted for special effects, the retail chain in this country achieved positive earnings before interest and taxes (EBIT) of 0.5 million euros, after having had to record a corresponding deficit of 14.7 million euros in the previous year.
Karsten Odemann, the spokesman for the management, was satisfied with the results. “Last year, Adler Modemarkt GmbH and the entire industry faced challenges, in particular customer reluctance to purchase due to ongoing inflation and geopolitical uncertainty, rising costs and changing customer preferences. Nevertheless, the company was able to achieve good results thanks to its customer and segment-oriented strategy and the strong operational performance of its colleagues,” he explained in a statement. The company is now “cautiously optimistic” for the current year, says Odemann.