GERMANY: Tom Tailor H1 like-for-like sales fall 4%
German clothing retailer Tom Tailor has reported a 4% decline in first-half like-for-like sales after difficult weather conditions dampened demand at its Bonita brand.
Retail sales for the Tom Tailor brand increased 25.7%, while like-for-like sales rose 7.9%. Bonita, however, was unable to set against the declining market trend and saw retail sales fall 6.2% and 9.6% on a like-for-like basis.
During the second-quarter, like-for-like sales climbed 0.7%. Tom Tailor retail sales grew 30.5%, while like-for-like sales were up 13.1% and e-commerce sales jumped 27.3%. Meanwhile Bonita posted a 4.7% drop in sales and a 5% decline on a like-for-like basis, due to "systematic reasons".
Commenting on the results, CEO Dieter Holzer said: "Tom Tailor has once again demonstrated its strong ability to achieve growth, which rests on its analytical trend management, customer proximity and flexible sourcing structures. In the future, these success factors will also take an effect on Bonita."
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