Top Secret’s sales stable in December

In December, Top Secret’s total revenue was approximately PLN 26m. Sales in Poland was relatively flat compared with the previous year. In the entire 2019, some PLN 235m was posted in the fashion segment, which was slightly less than in 2018.

Sales of Top Secret products in December 2019 totalled approximately PLN 26m, having dropped  by some 4% year on year. At the same time the retail space of chain stores selling Top Secret, Troll and DryWash brand products was reduced by 9% year on year, to 34.3 thousand m2 at the end of last month. Cumulatively, Top Secret recorded revenue of approximately PLN 235m, down some 3% relative to the corresponding period of the previous year.

“In December, sales at Top Secret stores in Poland were comparable to that recorded in the previous year, with the same size of the sales network. Goods from the current collection generated a similar sales margin to that in the corresponding period of the previous year. Year on year, markdowns on current collections were lower. However, due to a double amount of stock in December at Top Secret stores accumulated from previous seasons, the total gross margin on all collections was lower by 3.2 pp year on year,” said Bogusz Kruszyński, the President of the Management Board of Redan.

Last month, revenue from the sale of merchandise through Top Secret online stores in Poland and Ukraine totalled PLN 3m, a decline by 13% over December 2018. The drop resulted from a less diverse offer compared with the previous year. Cumulatively, revenue generated by Top Secret online stores was PLN 32.5m and was lower by approximately 6% than in the corresponding period of the year before.

Following the loss of control over TXM S.A. w restrukturyzacji (subject to restructuring), as of 18 July 2019 its revenue data is not published by the Redan Group.