TOM TAILOR Holding SE
- WKN: A0STST
- ISIN: DE000A0STST2
- Land: Deutschland
Nachricht vom 30.03.2020 | 20:29
TOM TAILOR Holding SE to only publish preliminary results on 31 March 2020 / Significant decline in turnover and revenue as well as considerable financing risks due to corona crisis
TOM TAILOR Holding SE / Key word(s): Preliminary Results
TOM TAILOR Holding SE to only publish preliminary results on 31 March 2020 / Significant decline in revenue and earnings as well as considerable financing risks due to corona crisis
Hamburg, 30 March 2020. On 31 March 2020, TOM TAILOR Holding SE (ISIN: DE000A0STST2, "TOM TAILOR Group" or "the company") will publish the preliminary results for fiscal 2019 rather than the full 2019 financial statements as originally planned. The reason for this is 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 situation of the Group. Due to the level of insecurity about further developments on the sales markets, the Executive Board rates short-term and medium-term liquidity planning as significantly risky. These risks include the risk of non-fulfilment of key lending indicators as well as the risk of liquidity bottlenecks.
The TOM TAILOR Group has closed its own stores (Retail) in most European markets until further notice. This has been done against the backdrop of the ongoing spread of the corona virus (COVID-19) and in compliance with the rules laid out by governments and regional authorities. The business with large customers (Wholesale) is also significantly impacted by the restrictions laid down by the different European states. The online retail and wholesale activities of TOM TAILOR Group are currently not affected and continue to be available to customers. A significant decline in revenue and earnings must already be reported for the first quarter of 2020. The economic impact on the TOM TAILOR Group is currently not quantifiable.
The Executive Board has already introduced extensive operational cost reduction measures. In addition, the TOM TAILOR Group intends to apply for the financial support programmes announced in Europe within the context of the COVID-19 crisis. These include among others government funding programmes, short-time working, for which the company has already applied for its own stores, as well as deferral of tax payments.
|Company:||TOM TAILOR Holding SE|
|Garstedter Weg 14|
|Phone:||+49 (0) 40 589 56 0|
|Fax:||+49 (0) 40 589 56 199|
|Listed:||Regulated Market in Frankfurt (General Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1010663|
|End of Announcement||DGAP News Service|
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