Restructuring of the TXM Textilmarket network
Due to unsatisfactory sales results, the Polish chain of clothing discount stores decided to deepen the restructuring of the chain. The main objective of the Company is to stabilise the Group’s financial results and cash flows at the current sales levels. The restructuring activities planned by TXM Textilmarket are to restore the Company’s profitability.
The Group’s turnover in the period from January to November 2018 amounted to PLN 310 million and was 7% lower than in the corresponding period of 2017. Despite the drop in revenues, the Company sees positive results in the form of improved margin and increased share of imported goods.
TXT Textilmarket intends to liquidate unprofitable stores and improve the operational efficiency of those with good prospects. In addition, the Company plans to reduce costs and improve the rotation of goods.
At the end of November 2018. The Company consisted of 388 own stores. The Group operates chains of stores in Poland, Romania and Slovakia, as well as an e-shop.