Year-on-year sales fallback at Top Secret stores reduced in July

Top Secret’s retail store sales in July 2020 were approximately PLN 13m, down 12% compared to July 2019. This marked an improvement, as in June and May the fallback was respectively -30% and -47%.

“In July, we still recorded a decline in sales at Top Secret stores in Poland. It resulted mainly from the number of store visits, which continued to be 30% lower year on year. This was only partially offset by higher receipts,” said Bogusz Kruszyński, the President of the Redan Management Board. “In the next few months we hope to further narrow the gap with previous year’s sales,” he added.

Revenue from the sale of merchandise through the Top Secret online store in Poland totalled PLN 2.4m in July 2020 and was relatively flat compared to July 2019. Cumulatively, revenue generated by the Top Secret online store in Poland stood at PLN 12.5m and was lower by approximately 36% than in July 2019. Despite weaker sales year on year, a higher volume of margin on online sales was generated.

Sales of Top Secret products in July 2020 totalled approximately PLN 17m, having dropped by some 18% year on year. Retail space was down 28.6 thousand m2, or 23%, mainly following the closure of stores in Ukraine and Russia and the reduction of the outlet network.