- Prachi Singh |
Discount retailer Takko Fashion for its 2018/19 fiscal year reported decline in net sales to 1,092.6 million euros (1,221.8 million dollars). The company said, adjusted EBITDA was also down on last year’s 148.1 million euros (165.6 million dollars), to 128.3 million euros (143.5 million dollars). The company added that customers embraced the Takko Fashion web shop, with net growth in sales of approximately 30 percent.
“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. 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 after a good start to the season,” said the company’s CEO Alexander Mattschull in a statement.
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 January 31, 2019. Takko Fashion opened its first French store in February 2018.
Picture:Takko Fashion website