Adler Modemarkt GmbH concluded its anniversary year 2023 with a significant increase in sales.
The net group sales of the clothing retailer, which celebrated its 75th anniversary last year, rose by 13.3 percent to 350 million euros compared to the previous year, Adler announced on Friday. The operating result before interest, taxes, depreciation and amortization (EBITDA), adjusted for special effects, also increased by 19.5 million euros to 6.1 million euros in the 2023 financial year, which ended on December 31, 2023.
“We are very pleased with the development of our company and the success we achieved in the last financial year despite difficult circumstances and against the industry trend in textile retail,” says Frank Beeck, Managing Director of Adler Modemarkt GmbH. Beck also emphasized the success of the changes to the range and the upgrade of the branches that have been made since the bankruptcy in 2021 and the subsequent takeover by the Zeitfracht conglomerate. The result shows very good acceptance among Adler’s customers.
