GERMANY: Tom Tailor toasts Q3 sales increase
New acquisition Bonita Group and thriving e-commerce sales helped fashion business Tom Tailor to post like-for-like sales up 3.9% in the third quarter of the year.
Retail sales for the Tom Tailor brand, including e-commerce, were up 28.5%, with like-for-likes rising 16.2%, thanks to a 60% surge in internet revenues.
However, Bonita’s like-for-like sales were down 3.9% in August and September, the company said.
“We saw pleasing sales of our Tom Tailor autumn range in September, achieving a sales increase of 15.3% on a like-for-like basis, while the market as a whole grew by an average of 5%,” said company CEO Dieter Holzer.
“We know that it will take time for Bonita to get back on track for like-for-like growth. In the months ahead, we will endeavour to create sustainable conditions for this to happen.”
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