Tom Tailor grows in sales in 2015 first three quarters despite slow Q3
The Hamburg-based apparel group Tom Tailor announced a 0.7% growth in like-for-like sales in the first nine months of 2015, despite a slow Q3 due to a weak market in August and delayed delivery of goods.
The retail activities of its menswear brand Tom Tailor and womenswear label Bonita recorded a strong performance in September with like-for-like sales increasing by 11.2%. However, this could not fully compensate the results of August, recording a fall by 1.9% in retail sales on a like-for-like basis in the third quarter.
“Even though we saw overall moderate like-for-like growth, the start into the fourth quarter indicates the continuation of a robust recovery on a like-for-like basis," said Dieter Holzer, CEO of the group.
The Tom Tailor brand, which offers stylish and casual clothing for men in the medium price range, achieved a 0.7% growth in like-for-like sales in the third quarter, a figure that could not balance out the label’s difficult start to the year. In the first nine months of 2015, Tom Tailor recorded a slight decrease in like-for-like sales by 0.3%.
The group’s Bonita label, recorded in the third quarter a decline by 3.7% in sales on a like-for-like basis, despite a strong 8.2% rise in sales in September. In the first nine months, Bonita increased sales by 1.6% on a like-for-like basis.
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