Tom Tailor store Stuttgart
12 Aug. 2011
TOM TAILOR INCREASES SALESHamburg-based Tom Tailor Holding AG has increased its sales by 19,9% to €176,6 million in the first half of 2011. In the second quarter, the company achieved a 24,7% increase in sales to €90.3 million and benefited from the systematic pursuit of its expansion strategy, as well as seasonal effects and a higher gross profit. The retail segment increased its sales by 63.1% to €36 million in the second quarter. In total, the sales segment rose by 50.1% in the first half of the year to €63.5 million. During the same period, the wholesale segment generated a sales increase of 7.7% to €113.1 million.
Tom Tailor continued to implement its strategy of expanding its own controlled retail space which includes the company´s own retail stores, e-shop, franchise stores and shop-in-shops. As part of the expansion, the German group has increased the number of retail stores by 57 to 215 since the beginning of the year. Dieter Holzer, CEO of Tom Tailor Holding AG, commented: “We will continue forward with our systematic expansion in the second half of 2011 and further increase our controlled retail space in Germany, Austria, Switzerland and the Benelux countries. In addition, we will open our first retail stores in Poland.”
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