Ermes Department Stores Plc announced unaudited consolidated earnings results for the quarter ended March 31, 2012. For the quarter, net loss allocated to share holders was EUR 4,411,000 or 2.5 cent basic and diluted loss per share on net sales of EUR 46,490,000 compared to net loss allocated to share holders of EUR 3,708,000 or 2.1 cent basic and diluted loss per share on net sales of EUR 48,687,000 for the corresponding period of last year. The turnover and the results of the Group are affected by the seasonality in sales. Net loss (after tax) was EUR 4,465,000 against EUR 3,681,000 of prior year period. The Board of Directors and the Management of the Group will continue to assess the developments in the economy and the decisions taken by the Authorities and have adopted specific pro active measures in reducing operating expenses, whose effects have already been emerged. It is noted that always there is a loss in the results of the first quarter, and despite the expected difficulties, the final results for 2012 will cover the losses and will show profits and provided that there are not going to be any unforeseen developments, the profitability for 2012 is expected to be improved compared to last year.