Highlights: - Group sales almost doubled to EUR 200 million - TOM TAILOR umbrella brand achieves 19.5% growth despite difficult weather conditions - BONITA umbrella brand develops in line with the market for systemic reasons - Gross profit margin rises to 53.7% across the Group
“TOM TAILOR GROUP developed well in a difficult first quarter and achieved further growth. Our TOM TAILOR umbrella brand benefited from our consistent trend management approach and also posted growth on a like-for-like basis. BONITA was unable to tap its potential in the first three months of 2013 due to systemic reasons.
"The integration of BONITA into the TOM TAILOR GROUP is well on track. We firmly believe that introducing the new product development process will bring BONITA back on course for growth as of the fourth quarter of 2013”, said Dieter Holzer, CEO of TOM TAILOR Holding AG.
In the reporting period TOM TAILOR GROUP’s sales almost doubled to EUR 196.8 million (Q1 2012: EUR 103.6 million). Due to the consolidation of BONITA, it is only possible to draw limited comparison between these quarterly figures and those of the previous year.
The TOM TAILOR retail stores performed particularly strong: Despite the unfavourable temperatures, sales climbed up 20.4% to EUR 48.4 million (Q1 2012: EUR 40.2 million); on a like-for-like basis sales grew by 2.3%.
TOM TAILOR thus broke away from the negative trend in the German textile retail market, which recorded a 6% decline in sales in the first quarter. TOM TAILOR’s e-commerce sales rose by 9.7% to EUR 7.5 million.
Unlike TOM TAILOR, BONITA was, due to systemic factors, unable to counteract the challenging weather conditions and the consequent drop in store traffic. BONITA generated sales of EUR 73.0 million in the first quarter, which equals a year-on-year decline of 6.0%.
On a like-for-like basis, sales declined by 15.0%. In the first three months of 2013, BONITA opened 13 new stores, increasing its store count to 995 (31.12.2012: 982).
In the TOM TAILOR wholesale segment, which comprises franchise stores and shop-in-shops, the Group grew sales by 18.9% to EUR 75.4 million (Q1 2012: EUR 63.4 million).
This growth was primarily attributable to two factors: positive demand from retail partners for the latest collections and an increase in controlled sales areas. TOM TAILOR increased the number of shop-in-shops by 34 to 2,065 and its franchise stores by two to 177 in the first quarter of 2013.
Tom Tailor Group
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