The Munich clothing retailer Loden-Frey Vertriebshaus GmbH & Co. KG was able to recover from the consequences of the Covid-19 pandemic in the course of the 2021/22 financial year. This emerges from the latest annual report, which was published in the Federal Gazette on Wednesday.
In the last financial year, which ended on June 30, 2022, the traditional company’s sales amounted to EUR 88.5 million. They thus exceeded the level of the previous year, which was significantly more affected by pandemic-related restrictions, by 36.3 percent.
According to the retailer, in the first half of the financial year “due to another cancellation of the Oktoberfest, it was not possible to match the sales turnover of the pre-Corona period”. In the second half of the year, however, revenues increased by 47.7 percent compared to the same period last year.
The company also increased its earnings significantly. At just under EUR 10.2 million, the annual surplus was almost four times as high as in 2020/21, when it had only reached EUR 2.6 million.