Germany fashion company Tom Tailor's second quarter retail turnover has grown 0.8 %, to 150 million euro. Its eponymous brand's retail turnover grew 8.8 % and its like-for-like turnover went up 1.3 %.
New strategy for Bonita
Its affiliate brand Bonita did not perform as well, as its like-for-like turnover dropped 9.1 %, but it had been taken into account as it was part of brand's strategy change. The board aims to focus on expanding qualitative sales instead of quantitative and its gross profit margin grew 4.6 % to 70 %.
"We consistently pursue our path at Bonita, emphasizing on the development of a strong product portfolio. Our clear target for the brand is to return to like-for-like growth over the medium term. The Tom Tailor brand will continue to serve as model for this", Tom Tailor Holding's CEO, Dieter Holzer, said.