×
93 012
Fashion Jobs
BOARDRIDERS
Stock Supervisor - Part-Time - Jersey Gardens
Permanent · LAKE FOREST
COLUMBIA SPORTSWEAR COMPANY
Information Security Risk And Compliance Analyst
Permanent · SALEM
COLUMBIA SPORTSWEAR COMPANY
sr Manager Digital Product Management- Product Creation Technology
Permanent · PORTLAND
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Full Time - ny 59th st
Permanent · New York
REISS
Area Manager
Permanent ·
MACY'S
Asset Protection Detective, Francis Scott Key - Standard Part Time
Permanent · Frederick
MACY'S
Asset Protection Detective, Willowbrook - Flex
Permanent · Wayne
MACY'S
Asset Protection Officer, West Virginia - Full Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Detective, Walnut Creek Broadway Plaza - Flex
Permanent · Walnut Creek
MACY'S
Asset Protection Officer, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Detective, Del Amo Fashion Center - Full Time
Permanent · Torrance
MACY'S
Asset Protection Detective, Tuttle Crossing - Standard Part Time
Permanent · Dublin
TIFFANY & CO
Full Time Branch Security Officer - Cincinnati
Permanent · Cincinnati
TIFFANY & CO
Market Vice President, Mid-Atlantic & Central Market
Permanent · Chicago
PUMA
Associate Manager, Merchandising- Footwear
Permanent · Somerville
PUMA
Senior Manager, Public Relations
Permanent · Somerville
PUMA
Manager, Public Relations
Permanent · Somerville
ASCENA
District Manager, Lane Bryant - Philadelphia
Permanent · Exton
ASCENA
Sales Supervisor- Short Hills, nj
Permanent · Millburn
NORDSTROM
HR Business Partner, Supply Chain - Newark, ca - Hybrid
Permanent · Newark
NORDSTROM
Retail Stock & Fulfillment - Spokane
Permanent · Spokane
NORDSTROM
Asset Protection - Agent - The Shops at Midtown Miami Rack
Permanent · Miami
By
Reuters
Published
Oct 25, 2012
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Britain's Debenhams, ASOS buck retail gloom

By
Reuters
Published
Oct 25, 2012

LONDON - British retailers Debenhams and ASOS laid out plans to deliver future growth overseas as their rising profits showed their resilience to weaker home market conditions.


Debenhams Westfield (photo: Debenhams)

Both Debenhams, Britain's No. 2 department store group, and ASOS, the fast-growing online fashion retailer, have bucked the gloomy trend in the sector, dogged by weak consumer confidence.

Shares in Debenhams, up 59 percent over the last year, rose 6 percent after it increased its target for online sales to 600 million pounds ($961.8 million) from 500 million through the next three to five years.

The group also upped its target for overseas franchise stores from 130 to 150, with a focus on new openings in the Middle East and Asia.

Debenhams currently trades from about 170 stores in Britain, Ireland and Denmark, and 71 overseas franchise stores.

The group, which ranks behind rival John Lewis JLP.UL in terms of annual sales, also posted a 4.2 percent increase in full-year pretax profit to 158.3 million pounds, against a forecast 157.5 million, driven by its breadth of products, appeal to a range of customers and multiple routes to market.

Yet the company did not see any general upturn in the sector, where Argos parent Home Retail (HOME.L) for example has just posted an 18 percent drop in first-half underlying pretax profit and is closing stores.

"We've seen no significant change in consumer confidence in the last six to nine months and customers are acclimatizing to what life is like in these challenging economic times," said Chief Executive Michael Sharp.

FURTHER PROGRESS

Sharp expects the UK to be as competitive as last year in the run-up to Christmas, the main selling season for most retailers. He does not anticipate a significant improvement in the economic environment in 2013 but said he does expect Debenhams to make further progress.

ASOS posted an expected 40 percent rise in yearly profit as strong trading in overseas markets more than offset slower growth in the UK, and said it was positive on the outlook.

The retailer, which targets young women looking to emulate the designer looks of celebrities such as Nicole Scherzinger and Pixie Lott, made a proforma underlying pretax profit of 44.5 million pounds.

UK retail sales growth of 10 percent was dwarfed by international sales growth of 64 percent.

As well as the UK, the company has websites in the United States, Australia, Germany, France, Italy and Spain. "On a daily basis on the planet we are the most visited fashion website for 15 to 34 year olds," CEO Nick Robertson told Reuters.

He said that by this time next year the group will have set up local language websites in both China and Russia.

"These are just two more markets which we will start small and gradually build," he said.

Prior to Thursday's update, ASOS shares had risen 90 percent so far this year, hitting a record 2,571 pence last week. But the stock was down 8 percent at 2,302p at 0951 GMT (0551 EDT), after Robertson played down recent re-heated speculation of a possible bid from Amazon.Com Inc (AMZN.O).

"What I can categorically say is I have haven't spoken to (Amazon CEO) Jeff Bezos for three years," he said.



Reporting by James Davey

© Thomson Reuters 2022 All rights reserved.