Tom Tailor was able to increase its income in 2022, the result remained at the previous year’s level.
The sales of the Hamburg clothing brand rose by 21 percent to 611 million euros in the past financial year, said Managing Director Gernot Lenz and CFO Christian Werner in an interview with the trade magazine Textilwirtschaft published on Wednesday.
Earnings before taxes, interest, depreciation and amortization of 53 million euros corresponded roughly to the level of the previous year. The gross profit margin fell by two percentage points to 53 percent. The reasons given were higher expenses for employees and product, as well as increased costs for materials and transport.
Tom Tailor expects growth across all channels this year, but predicts slower growth overall. Revenues are expected to increase in the higher single digits in 2023. Tom Tailor has not yet responded to a request from FashionUnited for its business figures.