Tendam's Q1 sales decline by 76.2 percent

Tendam Brands, the parent company of the Tendam Group, operating in the specialised chain store segment through the brands Cortefiel, Pedro del Hierro, Springfield, Women’secret and Fifty, has said that the first quarter reporting period coincided with the peak of the Covid-19 pandemic, with practically all stores fully closed in most of the markets. Physical store closures and restrictions on capacity and movement had a direct impact on total sales, which fell by 76.2 percent to 52.1 million euros (61.2 million dollars). Revenues for the last twelve months were down by 11.1 percent to 1.02 billion euros (1.20 billion dollars).