TOM TAILOR Holding SE: Adjustment of sales and earnings developments for fiscal year 2018
- Group turnover financial year 2018 now between 840m EUR and 860m EUR
- EBITDA margin between seven and a half and eight and a half
(initial expectations: 10 %)
Hamburg, 19 September 2018. The Hamburg-based fashion company TOM TAILOR Group adjusts its guidance for the fiscal year 2018. This is the result of an analysis of available figures till mid-September conducted by management.
Preliminary figures for August and September as well as projections for the last months have shown that growth has been affected by the exceptionally hot and long summer going along with decreasing demand as well as the delayed start of the season for the autumn/winter collections, combined with several rebate campaigns from August on. Therefore, the slight decrease in turnover, which has been expected as a result of RESET measures, cannot be absorbed in such a strong way as was expected initially.
Despite challenging conditions, the core brand TOM TAILOR is able to further strengthen its position on the market. Yet, the difficult start into the year for the brand BONITA cannot be compensated taking into account these conditions. Moreover, modernizing the brand takes more time than expected intially.
Therefore, the management of TOM TAILOR Holding SE does not expect to be able to compensate these decreases in sales by means of profitable growth in the remaining months of 2018. For fiscal year 2018, TOM TAILOR Holding SE now expects a group turnover between 840m EUR and 860m EUR as well as an EBITDA margin between seven and a half and eight and a half (initial expectations: 10 %). Moreover, the management board will review the value of the BONITA shares as well as the market value as a result of the current business development of BONITA and in connection with the budget process as well as the strategic long-term planning.
Person making the notification: Viona Brandt, Head of Investor Relations TOM TAILOR GROUP
Lena Christin Wulfmeyer
Head of Corporate Communications
TOM TAILOR GROUP
Phone: +49 (0) 40 58956-420
Head of Investor Relations
TOM TAILOR GROUP
Telefon: +49 (0) 40 58956-449
20-Sep-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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