Roland Kahn can be relieved after a few hard years: his fashion chains MS Mode and America Today are profitable again, while CoolCat halves its losses. Furthermore, important news would be on its way.
Good news all around
Last year, Kahn's chains achieved admirable results: after MS Mode's bankruptcy in 2014, the chain returned to positive profit figures after the closure of almost 200 of its 400 stores. America Today achieved a profit growth (EBITDA) of over 30 %, from 2.7 million to 3.6 million euro as e-commerce (now responsible for 16.3 % of its total turnover) fueled its growth.
CoolCat also recovers from a woeful period and halves its losses, from 9.8 million euro last year to 4.9 million now, despite a 6.3 % turnover drop to 121 million euro. The last two years, the chain had been closing onerous stores (down 10 to 112) and cutting supplies and rental costs. "We are back in control", RetailTrends quotes CEO Lilian Vos. Growing online sales and margins should lift turnover up and turn losses into profits.
A proud Kahn also says he will announce "some huge news" soon, after congratulating his sons - who took over CoolCat - that they "have been fighting through tough times, and now that starts to pay its dividents.