Fielmann forges on in uncertain climate

Fielmann, the German optical retailer, has posted a 3 per cent sales improvement for the first three months of this year despite the countryÕs economic doldrums.At the start of 2002 the company opened a E32m production and logistics centre, which it has stated is the base for its expansion in Europe. The business, which has nearly 500 outlets, is considering Britain, Spain and northern Italy for acquisitive growth. However, its intentions have not been helped by its homeland economy where trade experienced a 3 per cent fall, to the lowest level for 10 years. Consolidated sales rose to E158.3m (2001: E153.6m), with net income up E13.2m, up 4 per cent. In addition, in the first quarter Fielmann sold 1.24 million spectacles.A spokesman for the board said: ÔDespite the continuing general buying restraint, we are planning to increase our overall sales, unit sales and earnings in 2002. We will also increase our market share in Germany and its neighbouring countries.Õ