Tom Tailor news and archive

Inspecs Group reports sales decline and higher loss

British eyewear group Inspecs Group plc faced a decline in sales and a significantly higher loss in fiscal year 2024. CEO Richard Peck attributed the results, published on Thursday, to generally weaker customer demand. In light of the "difficult macroeconomic conditions," he stated that the company had demonstrated "resilience" and made...

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Tom Tailor: Wholesale boss David Meyer leaves

Tom Tailor and David Meyer, General Manager Business-to-Business (B2B), are going their separate ways. Meyer is leaving the Hamburg-based clothing retailer on February 28 "by mutual agreement," Tom Tailor announced on Wednesday. He joined the company in November 2021 and took over his previous position around a year later. He was responsible for...

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Tom Tailor receives 100 million euros loan

Tom Tailor GmbH has announced that the German federal government, together with federal states of Hamburg and North Rhine-Westphalia has extended a government guarantee for an operating loan of 100 million euros for the Tom Tailor subgroup, until the end of September 2024. Additionally, the company said in a statement that the consortium of...

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Tom Tailor 2019 revenues decline, expects further drop amid COVID-19 outbreak

According to preliminary, unaudited results, Tom Tailor Holding SE reported revenue decline of 4.8 percent to 803.1 million euros (882 million dollars) due to continued decrease in revenue at Bonita amid the difficult market situation as well as further planned store closures in this segment. The company said in a statement that revenue...

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COVID-19 impact: Tom Tailor to only publish preliminary results today

Tom Tailor SE has announced that it will publish the preliminary results for fiscal 2019 rather than the full financial statements as originally planned owing to 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...

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Andrea Homann, Tom Tailor’s VP Product to leave company

Andrea Homann, vice president product and managing director product and procurement at Tom Tailor GmbH since 2015 has decided not to extend her contract which expires on March 31, 2020, and will leave the company after 12 years in strategic and operational product management. “The decision was not an easy one, as I have a very strong connection...

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Tom Tailor appoints Christian Werner its new CFO

The Tom Tailor Group has signed a new consortium loan agreement, effective until September 30, 2022, which includes a further credit line of 10 million euros, bringing the total volume to 375 million euros. The company also announced that as part of the agreement, CFO Thomas Dressendörfer will resign from the management board, who will be...

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Tom Tailor agrees to new financial structure with banks and Fosun

Troubled fashion retailer Tom Tailor Group has reached an agreement with the consortium banks and majority Chinese shareholder Fosun on a new financing structure until the end of September 2022. Due to the planning timeframe through to 2022, the company’s management board has adjusted the preliminary results for fiscal 2018 that were published...

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Tom Tailor board in negotiations for CEO and CFO's exit

Troubled fashion retailer Tom Tailor has announced through a brief statement on Tuesday that the company is currently in discussions with CEO Dr Heiko Schäfer and CFO Thomas Dressendörfer regarding their departure from the company before their contract’s maturity. The Hamburg, Germany based fashion chain recently managed to reach an agreement on...

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Tom Tailor launches new smart casual line for women

German clothing company Tom Tailor has announced its new smart casual line "mine to five", which addresses the needs of a workforce comprised increasingly of women. They question the old-fashioned rules of office wear with black costumes and pantsuits more and more, according to the company in a press release on Tuesday. The new line will be...

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Fosun may obtain full control of German fashion retailer Tom Tailor

China’s Fosun International Ltd may obtain full control of German fashion retailer Tom Tailor, in which the company currently holds a stake of about 29 percent. Fosun informed the European Commission on December 21 that it may passively obtain “de facto control” of the Hamburg-based retailer after attendance rates at past shareholder meetings...