Good dynamics across all segments helped sales at German apparel marketer Tom Tailor Group climb 3.8 per cent year over year for the first half ended June 30, 2015.
“Sales increased 3.8 per cent €441.5 million in the reporting period compared to €425.2 million in the prior year first half,” a Tom Tailor Group press release informed.
According to the marketer, both umbrella brands contributed to the pleasing growth in sales, while the German textile industry on the contrary, recorded a 2.0 per cent decline in sales during the first half of 2015.
Sales at Bonita in the period under review grew 3.4 per cent to €159.0 million from €153.8 million in the corresponding period of 2014.
Bonita sales accounted for a 36.0 percent share of Group sales in the six months to June 30, 2015 vis-à-vis 36.2 per cent in the first half of 2014.
Like-for-like sales at Bonita rose 4.5 per cent in the first half of 2015 compared to a negative growth of 8.7 per cent in the previous year's first half and its store numbers rose by 5 to 1,018.
After a difficult start into the year, the Tom Tailor brand retail sales were up 1.9 per cent year on year to €126.1 million, although like-for-like sales dipped marginally by 0.8 per cent.
During the reporting period, number of Tom Tailor retail stores climbed by 23 stores to 405, since the end of 2014.
However, recurring earnings before interest, taxes, depreciation and amortisation (EBITDA) went down to €26.3 million in the first half of the year as against €30.5 million from a year ago period.
The recurring net loss for the period grew higher to €2.4 million versus net loss of €0.3 million in the same period of 2014.
Accordingly, recurring loss per share amounted to €0.16 compared to loss per share €0.08 from a year ago period.
Cash flow from operating activities declined by €1.0 million in the first half of the current year to €5.7 million from €6.7 million in the prior year first half.
“In view of the typical seasonality in the fashion industry over the course of a year, cash flow from operating activities is expected to increase in the second half,” Tom Tailor Group informed.
During the first half of the year, the Group made investments of €14.7 million, double when compared with €7.2 million in the expansion of retail space and the further verticalisation of the Group.
As of June 30, 2015, net debt totaled €231.9 million, which represented a year-on-year decrease of €4.0 from the period ending June 30, 2014.
"We are generally pleased with our performance in the first half of the year,” Dieter Holzer, CEO of Tom Tailor Holding AG said.
"At the same time we remain fully focused on our targets for the full year and will continue striving to boost sales on a like-for-like basis and increase our earnings power," he added.
