Takko Fashion Releases 2020/2021 Financial Figures

In a challenging market environment, Takko delivered strong sales when the stores were open and managed liquidity with strict cost discipline

Despite changes in consumer behaviour and ongoing store closures as a result of the Corona pandemic, the smart fashion discounter Takko Fashion achieved net sales of over 942 million euros in the 2020/2021 financial year, resulting in a 17 percent drop in sales compared to the previous year (1,137 million euros). Adjusting for the impact of store closures, Takko delivered 3 percent like-for-like growth compared to fiscal year 2019/2020 when stores were open1.

Karl-Heinz Holland, Executive Chairman of Takko Fashion, puts the result in the context of the challenging situation: "In the last financial year, we lost 65 selling days in Germany alone. The sales development of the German textile retail market fell by about one third in 20202. In comparison to the overall market, we are pleased with the fiscal year 2020/2021 performance and Takko saw strong sales whenever we were allowed to trade.“

In response to the pandemic-related sales losses, the fashion retailer had taken comprehensive measures to secure liquidity in the past financial year. At the same time, online shop net sales growth of more than 40 percent and increased revenues in the German and international stationary business, as soon as stores were open, confirmed the company's proposition: quality fashion at a fair price.

"Our thanks goes to all Takko Fashion colleagues. Despite difficult conditions, the entire Takko Fashion team demonstrated strong cost discipline and extraordinary commitment - in our Europe-wide stores as well as at our headquarters and logistics centres.

With its business model and international branch network, Takko Fashion is well positioned for the future. While operations continued to be impacted by lockdowns beyond fiscal year 2020/2021, the support from financing partners and our shareholder in March as well as the re-opening we experienced in the recent weeks helps us to navigate the current situation”, says Holland.

As of May 28, 1,919 stores of the 1,935 Takko stores are open again (German stores in parts still with restrictions) and liquidity stands at approximately 52 million euros.

 

1 L-f-L performance measuring the net revenue performance of fully open stores (trading no restrictions, i.e. adjusted for stores closed or restricted due to COVID) in the respective period in FY20/21 compared to the performance of same stores on the comparable day in FY19/20. Revenues are translated into EUR with the FX rate of the respective day.

2 Aziza Freutel: TW-Testclub. Die Umsatzentwicklung im Jahr 2020. In: TextilWirtschaft+, 04.01.2021

 

About Takko Fashion

Takko Fashion owns and operates more than 1,900 stores in 17 countries across Europe. Despite pandemic-related restrictions, the fashion retailer opened several new shops in the 2020/21 fiscal year, not only in Germany but also in Romania, Poland, France, Austria and Belgium, among others. In online as well as stationary retail, the company offers quality fashion collections at a fair price. As a member of the Fair Wear Foundation, the Partnership for Sustainable Textiles, and as a partner of the Better Cotton Initiative, Takko Fashion is committed to sustainable and responsible production conditions as well as sustainable cotton production.

 

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.

No company within the Group is obligated to update or assess this press release, including the forward-looking statements or all other information contained herein, unless for reasons stemming from new knowledge, future events, or other reasons. This press release may neither be published, released, nor distributed in jurisdictions in which such would constitute a violation of law, nor may it be brought into or transported into such jurisdictions.

 

 

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