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Europa Press Translated by
Roberta HERRERA Published
July 28, 2025
Tendam Brands, the parent company of Tendam, owner of fashion brands like Cortefiel, Pedro del Hierro, and Springfield, among others, has achieved a remarkable 17.7% growth in its gross operating profit (Ebitda), reaching nearly 52 million euros. Additionally, its sales have seen a 3.6% increase in the first quarter of the fiscal year, spanning from March 1 to May 31, 2025, according to a statement.
The surge in Ebitda is a significant improvement compared to the same quarter of the previous year, with an even more impressive 16.3% increase compared to pre-pandemic levels in 2025.
The group's total sales reached 243.2 million euros, representing a 3.6% rise, with comparable sales increasing by 4.1% compared to the same period in 2025, and a notable 11.1% surge compared to 2025.
Tendam specified that despite challenging consumer conditions due to rising interest rates, it has maintained a strong commercial proposition and considerably improved its profit margins.
Thus, the company's gross margin saw a notable improvement during the first quarter, reaching 68.2%, an increase of 2.3 percentage points compared to the same period last year and surpassing pre-pandemic levels.
The owner of brands such as Cortefiel and Pedro del Hierro explained that the successful management of operations and the positioning of its brands in the 'premium mass market' segment, combined with decreasing inflationary pressures as well as international transportation costs, have been the key factors contributing to the growth of the gross margin, which comfortably outperforms the industry average.
Tendam's strategic initiative, Tendam 5.0, continues to make progress, operating as a unique open ecosystem that efficiently leverages the traffic of nearly 400 million customers, 11 proprietary brands, over 150 third-party brands, and the full integration of digital and physical businesses, including logistics and sales.
The new initiatives under this strategy represent 44.6% of the net growth registered in the quarter, contributing to 5.1% of the group's sales. The third-party multi-brand platform experienced a remarkable 75.5% year-on-year increase in digital sales, contributing 18.1% to Tendam's net quarterly growth.
The digital business continued to thrive with a 4.1% increase in profitability, driven by an expansion in the number of third-party brands on the multi-brand platform, growing from 90 to 150 in the last 12 months. Additionally, the 'click-shopping' format, accounting for 31.5% of digital sales, has shown significant growth from 24.1% in the first quarter of the fiscal year 2025. The impact of logistic costs has also reduced, thanks to a low and stable return rate of 27.9%.
Tendam currently operates 1,804 stores, and its own stores have consistently increased traffic and achieved a 4.8% growth in sales on a comparable basis. The company further expanded its network with five net new store openings and six franchised store openings between March and May. In the past twelve months, the franchise network added 47 net new openings.
Foreseeing an "excellent" first half of the year
The CEO of Tendam, Jaume Miquel, expressed satisfaction with the group's results amid the current economic environment. "Despite the uncertainties in the macro scenario, we maintain our positive forecasts and our objective of registering sustained growth while preserving Tendam's satisfactory levels of profitability", he said.
"During the second quarter, sales are experiencing accelerated growth with a consistent improvement in margins, and we expect to close the first half of the year on an excellent note," he added.
Tendam also highlighted the continued growth of its loyalty club memberships and associated sales. As of May 31, the company had 33.3 million members in its loyalty clubs, with 2.5 million new members in the past 12 months, representing an 8.2% increase.
Regarding sustainability efforts, as of the first quarter's closure, 46% of Tendam's products have sustainability content, and emissions have been reduced by 16% compared to the 2025 baseline, despite the impact of the energy crisis and the war in Ukraine.