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Adler Modemärkte swings to loss in Q3

Adler Modemärkte AG said its normalized net income for the third quarter amounted to a loss of €3.3 million, compared with income of €154,380 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 2.5% from 0.1% in the year-earlier period.

Total revenue grew 6.8% on an annual basis to €130.2 million from €122.0 million, and total operating expenses grew 11.5% from the prior-year period to €134.3 million from €120.5 million.

Reported net income totaled a loss of €4.1 million, or a loss of 22 cents per share, compared to income of €5,000, or 0 cents per share, in the prior-year period.