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

Tom Tailor SE has announced that it'll publish the preliminary outcomes for fiscal 2019 slightly than the complete monetary statements as originally deliberate owing to the significant worsening of market circumstances in virtually all markets related to the Tom Tailor Group because of the corona crisis and the related dangers for the financing and liquidity state of affairs of the group. Tom Tailor additionally expects vital decline in income and earnings for the primary quarter of 2020.

The company stated in a press release because of the degree of insecurity about additional developments on the sales markets, it government board charges short-term and medium-term liquidity planning as considerably risky. These risks, the company added, embrace the danger of non-fulfilment of key lending indicators in addition to the danger of liquidity bottlenecks.

The group has closed its own stores in most European markets because of the ongoing spread of the coronavirus and in compliance with the principles laid out by governments and regional authorities. The corporate stated, business with giant clients (wholesale) can also be significantly impacted by the restrictions laid down by the totally different European states.

Image:Tom Tailor newsroom

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