In the period from January to June, the Company increased its sales by 17.7% to EUR 207.8 million (H1 2011: EUR 176.6 million), clearly outperforming the industry average again. In the second quarter, Group sales climbed by 15.5% to EUR 104.3 million (Q2 2011: EUR 90.3 million). Growth was primarily driven by the active expansion of selling space in the Retail segment and by the e-shop.
'We implemented various measures in the first half which blaze a trail in strategic terms. For instance, Tom Tailor has been running a TV campaign since March which has substantially boosted our online sales in particular. Our trading partners responded very positively to the unveiling of our new brand, Tom Tailor Polo Team. That said, there is no doubt that the most important event in the reporting period was the announced takeover of Bonita. This established, profitable brand will instantly enable us to tap an additional, attractive new market segment and make us a new heavyweight in the European fashion industry,' said Dieter Holzer, Chairman of the Management Board (CEO) at Tom Tailor Holding AG.
'We can afford to take this strategic step because our core business is very sound. Despite adverse weather conditions, Tom Tailor once again outperformed the industry average and we developed very well at the operating level as well. As a result, we will continue to pursue our expansion strategy in the second half of the year, which is traditionally more dynamic,' Holzer added.
During the first six months, Tom Tailor’s Retail segment grew sales by 34.6% to EUR 85.5 million (H1 2011: EUR 63.5 million). Tom Tailor’s e-commerce sales rose by 46.6% to EUR 15.4 million. This took the segment's share of overall sales to 41.1% (H1 2011: 36.0%). The number of retail stores increased by 21 to 269 in the first half of the year.
On a like-for-like basis the Retail segment grew 9.0% in the second quarter. This marked the 14th consecutive quarterly increase in like-for-like sales. In the first half of the year like-for-like growth amounted to 13.5%. With this figure, Tom Tailor by far exceeded the German textile retail market's development which ended the first half at -2%.
In the Wholesale segment, which comprises franchise stores and shop-in-shops, Tom Tailor grew its sales by 8.1% to EUR 122.3 million (H1 2011: EUR 113.1 million). The growth was attributable to three factors in particular: positive demand from trading partners for the collections, the improved consumption climate in Eastern European sales markets and the expansion of controlled selling space. Tom Tailor increased the net number of shop-in-shops by 103 to 1,889 and franchise stores by four to 159 in the first quarter.
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