In the first half of 2013, the Tom Tailor Group (Tom Tailor, Bonita) has doubled its sales but also its losses, compared to the previous year.

The company increased its sales by 95.9% from €207.8 million in the first half of 2012 to €407.0 million in H1 2013. This can be attributed to the fact that Bonita was consolidated for the first time in August 2012. Of the group’s overall sales in the first half of 2013, the Tom Tailor umbrella brand generated €244.5 million, whilst the Bonita umbrella brand generated € 162.5 million. Compared to the previous year, this resembles a +17.7% growth in sales for Tom Tailor and a -6.3% decrease in sales for Bonita.

Sales in the Tom Tailor retail segment increased by 26.1% to €107.8 million, the wholesale segment increased sales by 11.8% to €136.7 million over the same period. The group improved its gross margin by 5.7% to 56.2% percent in the first half-year of 2013. The recurring earnings before interest, taxes, depreciation and amortization (EBITDA) went up from €11.8 million in the previous year to €25.8 million (a rise of around 118.6%).
However, the reported net result for the period totals up to €-13.9 million (previous year: €-7.2 million); earnings per share stood at €-0.25 (previous year: €-0.41). Tom Tailor stated that higher interest expenses for financing the takeover of Bonita and the seasonally higher drawdown of credit lines were responsible for this.

“We are pleased that our Tom Tailor umbrella brand continued to grow during the first half of the year, bucking both, market trends and the weather. As expected, Bonita was unable to detach itself from the difficult conditions in the market. We are convinced that we can bring Bonita back on track for success in the second half of 2013,” said Dieter Holzer, CEO of Tom Tailor Holding AG. The Management Board expects to generate Group sales of €890- 910 million and a recurring EBITDA of €85 – 95 million in the total fiscal year 2013.