The textile group CBR Fashion Group, based in Isernhagen, was able to significantly increase its sales in the 2024 financial year. The operating result of the parent company of brands such as Street One and Cecil also exceeded the previous year’s level.
As the company announced at the request of Fashionunited, sales last year amounted to 730.0 million euros. This corresponded to an increase of nine percent compared to 2023.
Higher freight costs slow down the result development
The group achieved growth in all sales channels. E-commerce developed most dynamically with an increase of 17 percent to 209 million euros. In the wholesale business, sales rose by almost five percent to 436 million euros, the revenues in the stores and outlets grew by twelve percent to 85 million euros.
The result, which is adjusted for special effects, before interest, taxes and depreciation (EBITDA) grew less than sales. At 156.0 million euros, the previous year’s level only exceeded by three percent. According to the company, this development resulted from “temporarily significantly higher freight costs, which have burdened the result with a double -digit million amount”. However, the clothing provider emphasized that despite these higher costs, he “deliberately kept the sales prices stable and invested in the product”.