Tendam profits soar by 26 percent, announces 100 openings for 2026

Madrid – Spanish fashion multinational Tendam, the parent company of chains such as Cortefiel, Women'secret and Springfield, reported its results for its latest 2025 fiscal year this Tuesday morning. The period ended on February 28, with the group achieving further growth in revenue and profits. These results will serve as a foundation to accelerate its expansion and consolidation plans starting from 2026.

Tendam has now officially presented the accounts for its latest 2025 financial year. This completes the Spanish fashion multinational's records for the 2025 calendar year, which were previously reported by FashionUnited in February based on financial information from its parent company. The company completed the period, from March 1, 2025, to February 28, 2026, with total sales of 1,467.3 million euros. This amount represents an increase of 6.8 percent compared to the annual turnover in 2024. The company also reported a 6.1 percent increase on a like-for-like basis.

In terms of profitability, the company reported a net profit of 112 million euros in 2025. This figure represents a 26 percent increase compared to the profit recorded in 2024. This was supported by a gross margin that, although contracting by three percentage points, stood at 62.4 percent. EBITDA also rose to 368 million euros in 2025, a 9.4 percent increase.

“The results for the 2025 financial year confirm Tendam's strength as a unique and distinctive omnichannel ecosystem in the market,” emphasised Jaume Miquel, chairman and chief executive officer of Tendam, in a statement shared by the Spanish group's management. “It is a strategically solid model that has reached almost 1.5 billion in revenue with above-market growth in total sales; comparable sales; EBITDA; and net profit. These indicators show how we continue to grow in the market and strengthen our connection with the customer through advanced analytics, a firm and accelerated commitment to artificial intelligence (AI) where it generates the most value for us, and a benchmark multi-brand proposition.”

Generalised growth, by segment

Delving into the company's performance in its last fiscal year by business area, Tendam highlighted that sales growth was widespread across all its operational segments. In the adult fashion segment, combined sales from the Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove and Ooto brands increased to 394.6 million euros, a 7.8 percent rise. Its specialised lingerie and sportswear chains, Women'secret, Dash and Stars and Hi&Bye, saw sales grow to 466.8 million euros, a 9.9 percent increase. The youth fashion segment, including Springfield, High Spirits and Springfield Kids, grew more moderately. It remains the group's largest segment with revenues of 495 million euros, a 3.5 percent increase. This breakdown of sales is completed by its outlet segment, which includes the Fifty store chain and its associated brand Milano, with sales of 110 million euros, a 5.5 percent increase.

Regarding the company's performance by channel, online sales grew by 12.9 percent in 2025, although the total amount and its percentage of the company's total annual revenue were not specified. In its physical channel, the group expanded its retail network during the last fiscal year with the addition of 43 net openings. This included 29 of its own stores and 14 franchised stores, ending the year with a total of 1,844 operating points of sale.

Finally, by market, the company highlighted that Spain, Portugal and Mexico remain its key geographies. In Mexico, it recorded “significant” sales growth of 17.9 percent, or 25.2 percent at constant exchange rates, without specifying the final revenue figure for the Mexican market. The company demonstrated its strong growth ambitions for the country by opening 11 new stores in Mexico during 2025. Tendam closed the year with 88 of its own stores in the country.

Tendam to open over 100 stores in 2026, starts year with 10 percent growth

As a final update, Tendam reported that during the first quarter of its new 2026 fiscal year, from March 1 to May 31, the group recorded total sales of approximately 288.2 million euros, a 10.4 percent increase. It also recorded an EBITDA of 62.7 million euros, an 11.9 percent increase. The company celebrates these metrics in the face of the “geopolitical and economic uncertainties” that have occurred since the beginning of the year. It is also confident of accelerating as its strategic expansion plan is executed. This roadmap includes more than 100 openings throughout 2026. These will mainly feature group brands such as Hoss Intropia, Slowlove, OOTO and Dash and Stars, in line with Tendam's objective of providing each of its portfolio brands with an independent and representative physical presence.

“If 2025 was notable for our growth and a change in majority shareholding, led by 2PointZero, which I would describe as successful and orderly, 2026 represents the beginning of the deployment of Tendam's full potential,” added Miquel. “This is in terms of international expansion; development of own formats for the new brands; expansion of existing stores; strengthening our digital business; and a decisive commitment to investment in AI to accentuate our differential advantages.” He detailed that this comes after, “despite the global geopolitical and economic turmoil,” Tendam has managed to complete “its first quarter growing above the market in each of the main markets in which we operate.” This “demonstrates, once again, the power of our differential model and makes us look to the future with confidence and ambition for all that remains to be built.”