TELGTE, Germany, June 20, 2018 /PRNewswire/ --
The smart discounter Takko Fashion (the "Group"), one of the most successful discounters in the European fashion sector, with close to 1,900 stores in 17 countries in Western, Central and Eastern Europe, today announces its results for Q1 2018/2019 (February 2018 to April 2018).
From February 2018 to April 2018 Takko Fashion increased its net revenue by 3.3 per cent from the same period last year, to 249.0 million euros. Like-for-like revenue also increased by 2.5 per cent compared to the same period last year. This is an excellent result for the smart discounter, especially considering the negative effects that the poor spring weather had on the textile market.
The adjusted EBITDA amounted to 19.9 million euros in the period February 2018 to April 2018. Along with increased cash used in investing activities from 2.7 million to 5.9 million euros, Takko Fashion showed a positive operative cash flow of 6 million euros.
Since the start of fiscal year 2018/2019 Takko Fashion has opened 17 stores, and now operates a total of 1,878 stores at the end of the first quarter. The smart discounter Takko Fashion plans to expand its network of stores to over 2,000 locations in the fiscal year 2019/2020.
At the beginning of the year, Takko Fashion celebrated its market debut in France, where the smart discounter is now represented with four stores. "Our stores are being received wonderfully, so we're starting with the rollout now and plan to open another seven to ten stores this business year," reports Co-CEO Alexander Mattschull.
Another current project of the smart discounter is the insourcing of e-commerce warehousing. Takko Fashion realizes synergies through this and combines online deliveries with store supplies.
A new store concept has almost been fully implemented. For example, the entrance statement was redesigned, and children's fashion was given more space in the entrance area.
The start of the new business year 2018/2019 and the positive developments clearly show that the smart discounter is on the right strategic path to continue its run of success. "We're still picking up speed and will continue with the positive development of Takko Fashion," says Co-CEO Alexander Mattschull.
The press release contains estimates of known and unknown risks, uncertainties and other factors largely out of the control of Takko Fashion S.à r.l., Takko Luxembourg 2 S.C.A. and is affiliated companies (the "Group"), which are hard to predict and which may result in the actual developments differing from the development explicitly or implicitly presented in this press release.
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SOURCE Takko Fashion