Skip to main content

AllSaints records 6th consecutive year of sales growth

// AllSaints’ new product-focused strategy bears fruit
// AllSaints reported revenue growth in every channel

AllSaints has reported a rise in operating profit thanks to its new product-focused strategy, which included investment in its core fashion categories.

In the year to February 2, the British retailer made an operating profit of £3.6 million, up from a £6.2 million loss in the 53 weeks to February 3 2018, Drapers reported.

Gross profit grew by 1.8 per cent to £216 million in the same period, driven by a reduction in promotional activity during the year.

READ MORE: AllSaints appoints chief operations officer

EBITDA before exceptional items remained flat at £20.6 million, while pre-tax loss improved from £33 million to £26 million.

Meanwhile, revenue was up 1.2 per cent to £331 million, marking the sixth consecutive year of sales growth.

AllSaints reported revenue growth in every channel.

The fashion retailer has also attributed the success to the strengthening of its leadership team.

Peter Wood was appointed as chief executive in September 2018, having previously been chief operations officer since 2010.

He appointed the former Ted Baker womenswear director Catherine Scorey Jobling as chief operating officer in January.

The team has since introduced a new product-focused strategy, which has seen it broaden the footwear and accessories assortment, and launch new lifestyle categories.

“We are delighted that our focus on product, marketing and distribution has resulted in a significant and sustained step up in our performance since the second half of 2018 which we have further improved on so far in our new financial year,” Wood said.

“Despite the ongoing challenging market conditions, we believe the strength of our brand, our clear strategic focus, and the quality of our team mean that we are well placed to deliver continued growth in future,” he said.

Click here to sign up to Retail Gazette‘s free daily email newsletter

The post AllSaints records 6th consecutive year of sales growth appeared first on Retail Gazette.



from Retail Gazette https://ift.tt/2qZPn7E
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...
68 comments
Read more

Coronavirus Recovery: Canadian Small Businesses Must Focus on Easing Employee, Customer Fears

By M. Tina Dacin and Laura Rees A small business has been  given the green light to reopen amid the COVID-19 pandemic . What does it need to consider for employees and customers? Small business owners are reorganizing physical space to account for continued distancing requirements and rethinking supply chains to deliver products and services in new ways to meet changing demand patterns. But they must not forget the hearts and minds of employees and customers. That doesn’t mean replacing a focus on the bottom line, but it helps address the need for a new set of expectations and ways of communicating in terms of product or service offerings, delivery methods and real-time feedback. Based on our expertise in organizational behaviour and past research we’ve conducted, we provide a set of recommendations to help small businesses thrive in our new COVID-19 economy by looking after the hearts and minds of the people most important to businesses — employees and customers. Fear, Anxi...
1 comment
Read more

World's 1st Pizza Subscription Service Launches in Toronto

general assembly subscription user opening delivery box of pizza. photo: general assembly pizza By Mario Toneguzzi Toronto-based General Assembly Pizza has launched what it describes as the world’s first pizza subscription service as it also plans to aggressively expand its product offering in the near future by opening a new concept in the market. "Since opening our doors in 2017, we have pushed for the best guest-experience possible — that's why our dough is 100 percent naturally leavened, that's why we have a purpose-built 400-square-foot pick-up and delivery area, and that's why we’ve launched a direct-to-consumer subscription-based ecommerce platform,” said Founder & CEO Ali Khan Lalani. “In 2020, providing the best guest experience means General Assembly Pizza has to be more than a restaurant. I'm proud to say that after almost six months of planning, many roadblocks, and countless pivots — all while maintaining our day-to-day restaurant operatio...
1 comment
Read more