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Record year could put Danish Tiger on course for an IPO
TheCopenhagenPost
May 26th, 2015
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This article is more than 9 years old.
Discount store has opened more than two locations a week worldwide
Tiger opened one of its biggest stores in London’s Oxford Street last year (photo: Tiger)
It has been a remarkable year for the Danish discount store chain Tiger. The company’s parent company Zebra A/S released its annual accounts today, showing a record turnover and profit.
The capital fund EQT, which is the ultimate owner of 67 percent of the shares in Tiger, sees an IPO as being the obvious option, Børsen reports.
Turnover increased by 44 percent to 2.46 billion kroner, and the pre-tax profit was up 50 percent to 364 million kroner. A total of 122 new stores were opened worldwide and the brand was launched in five new countries.
Xavier Vidal, the CEO of Tiger, took encouragement from the numbers. “To increase turnover by 44 percent, and at the same time increase the profit margin, is the result of strong teamwork and a testament to the strength of our innovative design and retail concept,” he said.
“I want to thank all the employees for their contribution to another record year.”
Stock exchange potential
Morten Hummelmose, a partner at EQT, told Børsen the result made an IPO a possible exit strategy.
“Of course we’re looking at all the alternatives,” he said. “But with this company, an IPO is clearly a realistic option.”
Hummelmose draws attention to the other retailers that have successfully listed in recent years, such as the spotrts retailer XXL in Norway, the American fashion chain Five Below and the British discount chain Poundland.
“They have all chosen IPOs,” he said. “Because investors like this kind of growing company on the stock exchange.”
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