×
41 489
Fashion Jobs
ROSS STORES
Senior Business Analyst, Microstrategy
Permanent · New York
ROSS STORES
Senior Business Analyst
Permanent · New York
ROSS STORES
Area Loss Prevention Manager (Alpm)
Permanent · Pittsburg
ROSS STORES
Business Analyst
Permanent · New York
AVEDA
Aveda Advisor - 15 Hrs - Shops at Columbus Circle - New York,ny
Permanent · New York
SHOW MY LINE
Women's Luxury Ready-tO-Wear Production Manager
Permanent · NEW YORK
ESTÉE LAUDER COMPANIES
Latam E-Commerce Project Manager/Product Owner
Permanent · New York
MICHAEL KORS RETAIL INC
Sales Supervisor, Crabtree Valley, Raleigh nc
Permanent · Raleigh
GAP
General Manager - Lenox Square (Kids & Baby)
Permanent · Atlanta
GAP
General Manager - Northbrook Court
Permanent · Northbrook
GAP
General Manager- Stonebriar Mall
Permanent · Frisco
GAP
General Manager - Roseville Galleria
Permanent · Roseville
GAP
General Manager - Central Texas Marketplace
Permanent · Waco
GAP
Merchandise Planner - Boys - Outlet
Permanent · New York
GAP
Unassigned General Manager - Greater Nashville
Permanent · Nashville
ALICE AND OLIVIA
Sales Supervisor - Cabazon Outlet
Permanent · Cabazon
TARGET CORPORATION
Owned Brand Product Design Director, Pets
Permanent · MINNEAPOLIS
LA MER
Manager, Global Supply Chain Operations - Inventory
Permanent · New York
MAC
Business Development – Key Consumer Manager, Mac
Permanent · New York
H&M
Retail Flagship Visual Manager
Permanent · Chicago
JBCSTYLE
Art Director
Permanent · NEW YORK
JBCSTYLE
Sales Operations Coordinator
Permanent · NEW YORK

Oasis-Warehouse turnaround starts but still a work in progress

Published
today Sep 26, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

The tough trading backdrop continues to colour results for The Oasis and Warehouse Group with the year to March 2 showing the firm is still in turnaround mode. But at least pre-tax profit was £1.6 million, much better than a loss of £10.1 million the previous year.


Oasis



The company, which is owned by failed Icelandic bank Kaupthing, said total sales rose 6.5% to £293.2 million as it was a 53-week year, but  in the comparable 52 weeks to March 2, total sales dropped 2% to £270 million.   

But there were some bright spots as that pre-tax profit figure quoted above shows. Additionally, like-for-like sales were up ever-so-slightly (0.2%) and there was welcome news regarding online sales as they rose 17%. Given that they now account for as much as 30% of total turnover, that was encouraging.

The two brands, which are led by Hash Ladha and have 575 stores between them (109 directly-operated and the rest concessions), faced a retail environment that was tough during the period. 

But while it’s closing some stores, it also has opening plans and will open more concessions in Sainsbury’s supermarkets as that chain becomes a more important fashion destination. It currently has five Sainsbury’s sites up and running.

And Ladha said that while he doesn’t expect conditions to materially improve in the medium term, the continued focus on efficiencies and its recovery strategy "positions us well for the future.” He also said Brexit continues to create uncertainty for the fashion sector and is denting consumer spend.

The company recently moved into menswear for the first time, acquiring The Idle Man, the five-year-old multi brand and own-brand menswear retailer. This should boost results as it takes the group into a segment with strong growth prospects and also adds to its booming online business.

Copyright © 2019 FashionNetwork.com All rights reserved.