MUNICH, GERMANY - July 28, 2026 (NEWMEDIAWIRE) - According to TW-Testclub, the largest panel in brick-and-mortar fashion retail, the sector in Germany ended the first half of 2026 with a 4% decline in sales compared to the same period last year. This was primarily due to a weak start to the year. The cool weather throughout much the first quarter resulted in demand for seasonal spring and summer fashion falling significantly short of expectations. Although business picked up as the second quarter progressed, the sales losses incurred could not be fully recouped. The continued subdued consumer sentiment also had a negative impact. Many households were cautious in view of economic uncertainties, geopolitical risks, and concerns about their personal financial situation.

Sales development

In the first half of the 2026 fiscal year, LUDWIG BECK generated gross sales of EUR 37.1m, representing a year-on-year decrease of 1.9% (previous year: EUR 37.8m). In addition to the difficult overall conditions, the first six months of the 2026 fiscal year were characterised by a challenging market environment in Munich city centre for LUDWIG BECK. In particular, access to Marienplatz was affected by several negative developments in infrastructure and transport policy.

In the first half of the 2026 fiscal year, sales in the ‘"textile” segment amounted to EUR 28.6m (previous year: EUR 29.0m). Sales in the ‘"non textile" segment totalled EUR 8.5m after EUR 8.8m in the previous year.

LUDWIG BECK's online shop also saw a decline in the first half of the year.

Earnings situation

Based on sales development, gross profit decreased from EUR 15.5m to EUR 15.1m in the reporting period. The gross profit margin stood at 48.2% (previous year: 48.8%) due to higher price reductions. The cost of goods sold remained at the previous year’s level, amounting to EUR 16.2m (previous year: EUR 16.3m).

Other operating income amounted to EUR 2.0m in the first half of 2026 (previous year: EUR 1.9m). As in the previous year, personnel expenses totalled EUR 8.1m. Other operating expenses stood at EUR 6.5m (previous year: EUR 6.8m).

Earnings before interests and tax (EBIT) totalled EUR -0.8m (previous year: EUR -1.0m).

The financial result amounted to EUR -1.5m in the reporting period, after EUR -1.4m in the previous year. Accordingly, earnings before tax (EBT) stood at EUR -2.3m (previous year: EUR -2.4m).

Earnings after tax (EAT) amounted to EUR -2.6m (previous year: EUR -2.7m). As in the previous year, no deferred tax income was recognised against EBT.

Outlook

Despite the market environment remaining challenging, LUDWIG BECK is looking forward to the third quarter of 2026 with confidence. The company expects the macroeconomic and consumer conditions to stabilise gradually as the year progresses. Further growth is expected from the Munich Oktoberfest, which starts in September and traditionally makes a significant contribution to LUDWIG BECK’s sales performance.

LUDWIG BECK is well positioned for the second half of the year, both strategically and in terms of its products. The carefully curated assortment combines timeless classics with the latest fashion trends, enabling the company to respond flexibly to the different expectations and needs of its customers.

The detailed half-year report for the fiscal year 2026 is published on the company's website at http://kaufhaus.ludwigbeck.de in the "Investor Relations" section, "Financial Publications" under the heading "Interim Reports".

Contact Investor Relations:
LUDWIG BECK AG
A. Deubel
t: +49 89 23691 – 745
f: +49 89 23691 – 600
ir@ludwigbeck.de

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