TOM TAILOR : to only publish preliminary results on 31 March 2020 / Significant decline in turnover and revenue as well as considerable financing risks due to corona crisis
March 30, 2020 at 02:35 pm EDT
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DGAP-Ad-hoc: TOM TAILOR Holding SE / Key word(s): Preliminary Results
TOM TAILOR Holding SE to only publish preliminary results on 31 March 2020 / Significant decline in turnover and revenue as well as considerable financing risks due to corona crisis
30-March-2020 / 20:29 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
TOM TAILOR Holding SE to only publish preliminary results on 31 March 2020 / Significant decline in revenue and earnings as well as considerable financing risks due to corona crisis
Hamburg, 30 March 2020. On 31 March 2020, TOM TAILOR Holding SE (ISIN: DE000A0STST2, "TOM TAILOR Group" or "the company") will publish the preliminary results for fiscal 2019 rather than the full 2019 financial statements as originally planned. The reason for this is the significant worsening of market conditions in almost all markets relevant to the TOM TAILOR Group due to the corona crisis and the associated risks for the financing and liquidity situation of the Group. Due to the level of insecurity about further developments on the sales markets, the Executive Board rates short-term and medium-term liquidity planning as significantly risky. These risks include the risk of non-fulfilment of key lending indicators as well as the risk of liquidity bottlenecks.
The TOM TAILOR Group has closed its own stores (Retail) in most European markets until further notice. This has been done against the backdrop of the ongoing spread of the corona virus (COVID-19) and in compliance with the rules laid out by governments and regional authorities. The business with large customers (Wholesale) is also significantly impacted by the restrictions laid down by the different European states. The online retail and wholesale activities of TOM TAILOR Group are currently not affected and continue to be available to customers. A significant decline in revenue and earnings must already be reported for the first quarter of 2020. The economic impact on the TOM TAILOR Group is currently not quantifiable.
The Executive Board has already introduced extensive operational cost reduction measures. In addition, the TOM TAILOR Group intends to apply for the financial support programmes announced in Europe within the context of the COVID-19 crisis. These include among others government funding programmes, short-time working, for which the company has already applied for its own stores, as well as deferral of tax payments.
Investor contact
Viona Brandt
Head of Investor Relations
TOM TAILOR Group
Telephone: +49 (0) 40 58956-449
E-mail: viona.brandt@tom-tailor.com
Media contact
Erika Kirsten
Senior Manager Corporate Communications
TOM TAILOR Group
Telephone: +49 (0) 40 58956-816
E-mail: erika.kirsten@tom-tailor.com
30-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
TOM TAILOR Holding SE
Garstedter Weg 14
22453 Hamburg
Germany
Phone:
+49 (0) 40 589 56 0
Fax:
+49 (0) 40 589 56 199
E-mail:
info@tom-tailor.com
Internet:
www.tom-tailor-group.com
ISIN:
DE000A0STST2
WKN:
A0STST
Listed:
Regulated Market in Frankfurt (General Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange
TOM TAILOR Holding SE is a Germany-based fashion and lifestyle company. It provides casual wear for men, women, young adults and children in the middle-income consumer segment. The Company operates through three business segments: TOM TAILOR Wholesale, TOM TAILOR Retail and BONITA. Its offering portfolio includes products for target groups primarily up to the age 45, including clothing for men, women, children and babies, as well as denim and denim lifestyle products. In addition, it offers accessories and home decorations, such us shoes, leather products, belts, gloves, hats, scarves, bodywear, ties, bags, perfumes, jewelry, umbrellas, watches and sunglasses, bed linen, and toiletries, as well as shawls, among others. The Company sells its products directly to end customers through company owned stores, as well as through an e-commerce site, and through franchise stores, shop-in-shops, and multi label stores.
TOM TAILOR : to only publish preliminary results on 31 March 2020 / Significant decline in turnover and revenue as well as considerable financing risks due to corona crisis
TOM TAILOR HOLDING SE 
