Germany’s purchasing and marketing association for independent shoe and leather retailers Garant Schuh + Mode AG, has forecast a buoyant 2001/02 for its members.

Managing director Kurt Merse said he expects the sector to grow by 2% to 3% over the coming twelve months, and reports that turnover climbed by up to 9% in the first quarter. The 4,850 strong membership of Garant increased its collective retail turnover by approximately 6% to DM5.9 billion ($2 million) in 2000 - their average earnings per share climbing DM6.48 to DM7.04 during the year. An average increase to DM7.90 is expected for the full year 2001.

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