Tendam reports flat revenue growth in Q1

Tendam having brand names such as Cortefiel, Pedro del Hierro, Springfield, Women'Secret and Fifty under its fold, has announced that recurring EBITDA, calculated on LTM, reached 165.5 million euros (194 million dollars) versus 141.1 million euros (165.3 million dollars) in the same period last year. In the first quarter of 2018/19, EBITDA was 18 million euros (21 million dollars) versus 22.4 million (26.2 million dollars) in the same quarter last year. The LTM revenues remained stable at 1,145.7 million euros (1,342.5 million dollars) versus 1,150.6 million euros (1,348.2 million dollars) with a first fiscal quarter reported revenues of 221.3 million euros (259.3million dollars) versus 230.3 million euros (269.8 million dollars) for the same period last year.

Commenting on the first quarter results, Jaume Miquel, CEO of Tendam said in a statement: "In the first quarter of 2018 we continued to implement the roadmap of our strategic plan to increase investment to strengthen brands, digitization, enhancement of CRM and accelerated expansion in key markets . Efficiency criteria in management continued to be the basis of our performance, resulting in substantial improvements in margin and decrease in stock levels."

During the first fiscal quarter, the digital business grew 21.5 percent, highlighting combined 25 percent growth of Cortefiel and Springfield brands. Between March and May 2018 gross margin increased 0.2 percentage points.

As a part of the company’s expansion plan, Tendam opened 15 points of sale. At May 31, 2018, Tendam had a network totalling 2,002 stores outlets.

Picture credit:Tendam