Takko Fashion moves forward with positive Q3 results

European apparel retail group Takko Fashion just announced its revenue for this third quarter. From August to October 2017, the company's revenue has proven that the company is headed for a steady increase in the future.

The company currently operates over 1,850 stores internationally. Net revenue for Takko Fashion's third quarter grew by 4.9 percent year-on-year to 300.3 million euros (356.8 million dollars), according to a press release from the company. Takko also gained with an increase in Like-for-like sales of 4.8 percent. "Overall, we are very satisfied with the Company's performance over the course of this year, and we were able to develop the business very well in the third quarter. We expect this positive trend to continue," said Arnold Mattschull, chief executive officer of the company.

In November, the company successfully completed financing its debt. The debt was settled ahead of its maturity date of previous bonds, according to the press released. As a result, new notes that amounted to 510 million euros have been issued and used to repay the previous notes. This has allowed of rate company to secure financing for the next six years until 2023. "Given the improved terms on the new notes, we will be saving more than 20 million euros per year in interest payments," said Mattschull. With the company's past improvements, it seems Takko Fashion is well on its way towards a successful 2018 year in the industry.