×
75 143
Fashion Jobs
ESTÉE LAUDER
Hiring Event Material Handlers & Order Handlers
Permanent · Bristol
ESTÉE LAUDER
Tpm Planner
Permanent · Bristol
NEW BALANCE
Loss Prevention Officer ii (All Shifts Open)
Permanent · Lebanon
NEW BALANCE
Loss Prevention Officer ii (All Shifts Open)
Permanent · Lebanon
UNDER ARMOUR
Stock Lead, ft (5am to 2pm Tuesday Through Saturday)
Permanent · ALBERTVILLE
THE REALREAL
Sales Account Manager (Account Luxury Manager)
Permanent · Berkeley
THE REALREAL
Sales Account Manager (Account Luxury Manager)
Permanent · Emeryville
THE REALREAL
Sales Account Manager (Account Luxury Manager)
Permanent · Hayward
KOHLS
Full-Time Stockroom Operations Supervisor
Permanent · Saratoga Springs
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Berlin
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Strongsville
KOHLS
Full-Time Stockroom Operations Supervisor
Permanent · Georgetown
KOHLS
Full-Time Stockroom Operations Lead
Permanent · Columbia
KOHLS
Part-Time Stockroom Operations Associate (Early Morning)
Permanent · Forsyth
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Carmel
KOHLS
Customs Compliance Coordinator
Permanent · Menomonee Falls
KOHLS
Part-Time Stockroom Operations Associate (Early Morning)
Permanent · Folsom
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Coralville
KOHLS
Full-Time Stockroom Operations Supervisor
Permanent · Coralville
KOHLS
Full-Time Stockroom Operations Supervisor
Permanent · Federal Way
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Maple Grove
NORDSTROM
Retail Stock - Preston Shepard Place Rack
Permanent · Plano
Published
Dec 1, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hyve surviving but Pure London owner doesn't see event normalisation until 2022

Published
Dec 1, 2020

Despite a global events business decimated by Covid-19 in 2020 and an outlook of “disruption” in the events schedule in 2021, Hyve Group was still in a positive mood Tuesday delivering its final results for the year.


Happier times: February's Pure London event pre lockdown - Pure London


That was surprising for a company that doesn’t expect a return to a normalised schedule of events until fiscal 2022, “albeit with events still recovering in terms of revenue and customer numbers”.

But the positivity comes from a concentrated move not just to survive but to make sure it will still be around when that “normalised schedule” returns.

That has meant delivering cost savings “above our projections”, receiving "substantial" insurance payments, raising £126.6 million through a rights issue and "taking every possible step to conserve cash... so we end this year with a strong financial platform to weather Covid-19".

CEO Mark Shashoua said: “Since Covid-19 struck in March we have taken every measure within our control to protect our employees, customers and futureproof the business as markets reopen”.

So, as you'd expect, numbers for its trading year to end September "reflected the impact of this unprecedented pandemic."

Revenue fell 51% to £105 million from £220.7 million a year ago. Headline pre-tax losses hit £18.7 million, despite receipt of £22 million in insurance proceeds, from a profit of £50.4 million a year ago. 

Statutory pre-tax losses ballooned to £312.9 million from a profit of £8.7 million 12 months ago. However, that included one-off non-cash impairment charges of £623 million.

But at least the company ended the year with a “strong" balance sheet with adjusted net debt of £67.7 million, cut from £111.7 million a year ago.
 
And the outlook? “While news of Covid-19 vaccines is very encouraging, we expect disruption to our events schedule into 2021”, said Shashoua. 

“That said, as in-person events continue to return, Hyve's market-leading events are optimally placed to service the pent-up demand for learning, networking and trading whilst stimulating the global economy.

“Our strategy, strong financial platform and focus on developing an omnichannel business position us at the forefront of the recovery and give us the best chance to emerge successfully and get back to doing what we do best.”

Chairman Richard Last added: “We look forward, with some optimism, to an improving economy. We expect to see a steady increase in the number of in-person events being held, particularly in the second half of 2021. The size of the events will initially be smaller and more domestic when compared to the same events held prior to the pandemic".
 

Copyright © 2023 FashionNetwork.com All rights reserved.