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Q3 like for like sales down 0.7% at Tom Tailor AG
26
Oct '15
In its interim results presented for the third quarter ended September 30, 2015, German apparel marketer Tom Tailor Group said like for like sales were down 0.7 per cent year over year.

“After the successful first half of the year, the third quarter was affected by influencing factors such as the weak market in the month of August and delayed delivery of goods,” it stated in a press release.

“The strong performance in September 2015, with a sales increase of 11.2 per cent on a like for like basis, could not fully compensate this effect,” Tom Tailor explained.

“We recorded strong growth in September but this could not fully compensate the weak August,” said Dieter Holzer, CEO of Tom Tailor Holding AG said.

“Even though we saw overall moderate like-for-like growth, the start into the fourth quarter indicates the continuation of a robust recovery,” he added.

In the third quarter of 2015, the Tom Tailor brand achieved a like-for-like sales increase of just 0.7 per cent.

“This development was mainly driven by successful growth in the month of July, followed by a 15.8 per cent sales rise in September,” the company explained.

Following a successful half-year, the Bonita brand recorded a decrease in like-for-like sales by 3.7 per cent in the third quarter of 2015, despite an 8.2 per cent sales rise in September.

However, in the first nine months of 2015, Bonita like-for-like sales drove up by 1.6 per cent year on year. (AR)

Fibre2Fashion News Desk – India

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