Top Secret earned PLN 20m in revenue in July

The Top Secret fashion chain’s revenue in July reached approximately PLN 20m. The entire Redan Group, taking into account the performance of the TXM discount stores, posted revenue of approximately PLN 38m.

In the fashion segment, total revenue from the sale of merchandise in July 2019 was some PLN 20m, having dropped by about 12% year on year. In January to July, revenue in the fashion segment amounted to approximately PLN 132m and grew by about 1% compared to the corresponding period of the previous year. Revenue from the sale of merchandise through Top Secret online stores in Poland and Ukraine in July 2019 totalled PLN 2.5m, a decline by 15% over July 2018. Cumulatively, revenue generated by those online stores reached PLN 19.5m and was higher by 3% year on year. As at the end of July 2019, the retail space of chain stores selling Top Secret, Troll and DryWash brand products was 37.2 thousand m2 and increased by 3% compared to the end of July 2018.

“Last year, our holiday offer was larger, as a result of slightly larger orders of goods and failure to meet our sales plans in foreign markets. Although this contributed to higher revenue in July 2018, we ended up with a larger stock of unsold products at the end of the season. That’s why this year, in line with our plans, we made lower orders, leading to reduced revenue. However, we have a much better stock structure before the upcoming autumn season, which is of key importance in our industry,” said Bogusz Kruszyński, the President of the Management Board of Redan S.A.

In the TXM discount segment, sales in July 2019 were estimated at about PLN 18m, a decline by 30% year on year. As at the end of July, the TXM store network included 292 own stores with a total area of 72.7 thousand m2, down approximately 30% relative to the end of July 2018. In the period from January to July 2019, TXM’s sales totalled approximately PLN 146m and were some 24% lower than in the same period of the previous year. Revenue from the sale of merchandise generated by the online store in July 2019 amounted to approximately PLN 0.5m, having raised by 23%. Cumulatively, in the first seven months of the year it was some PLN 3.5m, about 13% less than in the corresponding period a year before.

The Redan Group’s combined revenue of both segments in July 2019 reached approximately PLN 38m, having dropped by 22% compared to the same period in the previous year. Cumulatively, revenue stood at approximately PLN 278m, down about 14% year on year. The retail space of all Redan Group stores at the end of July totalled 109.9 thousand m2, representing a decrease by 22% compared to July 2018.