Tom Tailor reports moderate like-for-like sales growth in Q3

The Tom Tailor Group reported a like-for-like sales growth of 0.7 percent by the end of September. After the successful first half of the year, the company said that the third quarter was affected by the weak market in the month of August and delayed delivery of goods and the strong performance in September, with a sales increase of 11.2 percent on a like-for-like basis, could not fully compensate this effect. Across the group, like-for-like retail sales came in at -1.9 percent in the third quarter.

“We recorded strong growth in September. This could however not fully compensate the weak August. Even though we saw overall moderate like-for-like growth, the start into the fourth quarter indicates the continuation of a robust recovery on a like-for-like basis," said Dieter Holzer, CEO of the Tom Tailor Holding.

Like-for-like sales growth at Tom Tailor brand

In the third quarter, the brand Tom Tailor achieved a like-for-like sales increase of 0.7 percent driven by successful growth in the month of July, followed by a 15.8 percent sales increase in September. With a plus of 30.8 percent in September, ecommerce was an additional important growth driver. The like-for-like increase in the second and third quarter, however, could not fully compensate for Tom Tailor’s difficult start to the year, with like-for-like sales of -3.9 percent. For the nine month period, the brand therefore recorded a slight decrease in like-for-like sales by -0.3 percent.

Following a successful half-year, the brand Bonita recorded as compared to the previous year a decrease in like-for-like sales by -3.7 percent in the third quarter, despite a 8.2 percent sales increase in September. In the first nine months, Bonita increased sales by 1.6 percent on a like-for-like basis.