Fielmann reported a 2.3 percent increase in consolidated sales to €238.2 million for the second quarter ended June 30, as compared to the same quarter a year ago. Germany's largest optical retailer had reported a 3.2 percent increase for the first quarter, but company officials noted that, because of the Easter holidays, the second quarter had two extra vacation days where its stores were closed.
Net income fell by 5.7 percent for the period, but remained high at €26.8 million.
The company sold 1.6 million pairs of glasses, 6.7 percent more than the same quarter last year, but average prices evidently declined. Pre-tax profit fell by 5.5 percent to €39.2 percent compared with 2008, but that represented 18.8 percent growth over this year's first quarter.
For the full first half of the year, consolidated revenues grew by 2.9 percent to €464.5 million. By region, Germany's segmental revenues crept up by 2.8 percent to €393.3 million. Switzerland and Austria also saw gains: Switzerland by 4.9 percent to €51.7 million, and Austria by 6.4 percent to €25.1 million. However, margins were squeezed and revenues in other areas, such as Poland, fell by 6.8 percent to €12.4 million.
The company's operating profit fell by 10.0 percent to €72.2 million for the first six months, and on a pre-tax basis it declined to €50.8 million from €56.5 million a year ago. Operating profits declined in every country. They were down to €61.0 million Germany, to €9.9 million in Germany and to €2.3 million in Austria. Elsewhere, the operating loss widened to €0.6 million.
The company had 631 stores as of June 30, up from 607 the year before, and still plans to open a total 25 new branches this year. It employed 12,585 people as of June 30, 2,128 of whom were trainees, compared with 11,841 at the end of the 2008's first half.
Fielmann reiterated its outlook for the year from its last statement, and said that it expects to gain market share as customers turn to trusted names during tough economic times.