Wolford AG revised its forecast for the financial year to April 30, 2017. In the light of a significant decline in first-quarter revenue and the ongoing market weakness in the month of August, it is unlikely that the company will be able to make up for the revenue decrease during the rest of the financial year. Negative events in important core markets (i.a. political uncertainty in the USA, fear of terrorism in France, Brexit) have led to weak consumption and declining customer traffic. As a result, the management board expects revenue for the entire financial year to stagnate or drop slightly below the prior-year level, and possibly negative operating results in the lower single-digit million euro range. The implementation of the program of measures designed to sustainably increase revenue, enhance profitability and carry out a creative realignment of the company is proceeding on schedule. The cost-cutting drive is being accelerated, which is why the company reaffirms its medium-term planning targets.