### Key Highlights:.
* Tendam saw a 16.4% increase in revenue to €608.4 million for the first six months of 2023, surpassing the €522.8 million reported in the same period last year..
* The Spanish fashion retailer achieved a remarkable 8.2% growth in its EBITDA, rising from €40.6 million in H1 2022 to €44 million in H1 2023..
* Online sales continued to flourish, contributing 21.6% to total revenue, indicating a 1.8% increase compared to the previous year..
* Tendam expanded its physical presence, opening 10 new stores while optimizing its portfolio through selective closures, resulting in a total of 1,780 stores globally..
### Sales Performance:.
Tendam’s robust revenue growth was driven by several factors, including a strong recovery in physical stores and a sustained momentum in online sales..
* **Physical Stores:** Tendam’s physical stores contributed significantly to the company’s revenue growth, with sales increasing by 18.9% compared to H1 2022. This resurgence highlights the enduring appeal of brick-and-mortar shopping, particularly as consumers seek a more immersive and personalized shopping experience..
* **Online Sales:** Tendam’s online platform maintained its growth trajectory, contributing €131.5 million to total revenue. This represented a 1.8% increase compared to the same period last year, demonstrating the company’s ability to adapt to changing consumer preferences and leverage digital channels effectively..
### Geographical Performance:.
Tendam’s revenue growth was not limited to a specific region; the company experienced positive results across its key markets..
* **Spain:** Spain remained Tendam’s largest market, generating €391.5 million in revenue, reflecting a 14.4% increase compared to H1 2022..
* **International Markets:** Tendam’s international operations also contributed to the company’s growth, with revenue increasing by 24.8% to €216.9 million. This growth was primarily driven by strong performances in Portugal and Mexico..
### Brand Performance:.
Tendam’s portfolio of brands exhibited varying degrees of growth, with some experiencing remarkable success while others faced challenges..
* **Cortefiel:** Cortefiel, Tendam’s flagship brand, continued to lead the way with a 13.2% increase in revenue, reaching €287.4 million. This growth was fueled by strategic investments in product development, marketing campaigns, and store renovations..
* **Other Brands:** Other brands within the Tendam portfolio, including Springfield, Pedro del Hierro, and Women’secret, also experienced varying degrees of growth, contributing to the company’s overall revenue increase..
### Outlook:.
Tendam expressed optimism for the remainder of the year, anticipating continued growth and profitability. The company remains focused on executing its strategic plan, which includes expanding its international presence, optimizing its store portfolio, and enhancing its digital capabilities to meet the evolving needs of its customers..
Overall, Tendam’s solid first-half performance reflects the company’s resilience and adaptability in navigating a challenging economic environment. The retailer’s commitment to innovation, customer-centricity, and operational efficiency positions it well for sustained growth in the future..
