Takko Fashion publishes its annual report for the 2018/2019 fiscal year

The ‘Smart Discounter’ is investing in growth

Growth was on the agenda again in the last fiscal year for smart discount fashion retailer Takko Fashion. Based in Telgte, Germany, the company opened a total of 122 new stores in the 2018/2019 fiscal year, bringing the total number of stores in the international network up to 1941 on 31 January 2019. 

First and foremost, the company’s market entry in France last year delivered genuine business value. Takko Fashion opened its first French store in February 2018. By the end of the year the number of successful openings in the neighbouring European country totalled eleven. “France is definitely one of our focus markets. Our stores  are performing very well. French consumers like our concept of attractive fashions at excellent value for money. That's why we are planning additional store openings in France in the current fiscal year,” said CEO Alexander Mattschull. Customers have embraced the Takko Fashion web shop and it has also developed very positively, with net growth in sales of approximately 30%.

Takko Fashion achieved growth in what was a turbulent year for the fashion retail industry, with many ups and downs. Although sales were weak in the sector as a whole during the unusually long and hot summer, Takko Fashion closed out the fiscal year with a satisfactory result.

Takko Fashion’s net sales declined slightly to EUR 1,092.6 million in the fiscal year under review. Adjusted EBITDA was also down on last year’s result (EUR 148.1 million), but nevertheless solid at EUR 128.3 million.

Net cash used in investing activities rose from EUR 15.6 to 27.9 million. Of that amount, EUR 15.2 million was accounted for by new store openings.

“Last year was a difficult year for the fashion retail sector, and the entire industry was hit hard by a very long period of warm weather. My very special appreciation is extended in particular to our employees: all of us, together, we have managed to finish the financial year with a satisfactory result, despite the adverse circumstances. Now we are therefore optimistic about our company’s outlook: The 2019/2020 financial year looks

 

Disclaimer

The press release contains information on known and unknown risks, uncertainties, and other factors largely outside of the control of Takko Fashion S.à.r.l., Takko Luxembourg 2 S.C.A., and their affiliated companies (the "Group"), and which are difficult to predict and may lead to the actual development differing significantly from the development explicitly or implicitly presented within this press release.

Any liability by the Group with regard to the information contained within this press release is expressly ruled out (including for direct or indirect damages or subsequent damages). This press release (or parts thereof) or the fact of its publication constitute neither the foundation nor a statement of trust for finalisation of a contract, the acceptance of obligations, or an investment decision.

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