EUROPE Takko, a European clothing retailer with around 1,850 stores across 16 countries in Western, Central and Eastern Europe, has reported a 2.5 pct. increase in sales y-o-y in Q2 of the 2017/18 financial year (May-July).
Net revenue increased to EUR 304.4 mln, compared to EUR 296.9 mln in the previous year. Like-for-like revenue increased by 2.9 pct. The company also saw an 18.5 pct. increase in adjusted EBITDA.
The total number of stores decreased by 35 from 1,883 to 1,848 as of July 31st, 2017. Takko Fashion is currently planning about 48 new store openings and is expected to open about 150 stores over the financial year. Some of the stores are being developed as part of the Takko Express concept, which was introduced in March 2017. This format offers the same goods over a smaller sales area (from 150 sqm). Takko Fashion is still looking for suitable locations, in particular in cities and urban districts with from 5,000 to 15,000 inhabitants and with a ground floor sales area of 150-550 sqm in a prime location.
Over the period, credit lines under a senior facilities agreement holding worth EUR 235 mln were extended.
Apax Partners, the owner of the brad, has paid back loans from Advent International, the brands previous owner.
