×
62
Fashion Jobs
RITUALS
Area Manager, Syd
Permanent · Stockholm
H&M
SEO Specialist Global Media Team - h&m Marketing & Communication
Permanent · Stockholm
H&M
Product Compliance Specialist Within Physical Properties
Permanent · Stockholm
H&M
Product Labelling Specialist, Global Product Compliance Department
Permanent · Stockholm
H&M
Business Controller to Assortment
Permanent · Stockholm
H&M
Product Compliance Coordinator For Cosmetic And Chemical External Branded Products
Permanent · Stockholm
H&M
Buying Student Placement Fall 2020
Permanent · Stockholm
H&M
Art Buyer | h&m Studios
Permanent · Stockholm
H&M
HR Specialist h&m - Health And Work Environment
Permanent · Eskilstuna
H&M
HR Generalist h&m
Permanent · Eskilstuna
H&M
Head of Compensation & Benefits at h&m Group
Permanent · Stockholm
H&M
Responsible ai Specialist
Permanent · Stockholm
HOLLISTER CO
Assistant Manager (Manager in Training) - Hollister Gallerian - Full Time
Permanent · STOCKHOLM
H&M
Fashion or Print Design Internship 2020 – 21 (For 2020 Graduates Only)
Internship · Stockholm
H&M
Content Responsible h&m Backstage For h&m Marketing & Communications
Internship · Stockholm
HOLLISTER CO
Assistant Manager (Manager in Training) - Hollister Emporia - Full Time
Permanent · MALMÖ
H&M
Integration Solution Lead
Permanent · STOCKHOLM
H&M
Customer Service Agent - Finnish
Permanent · Borås
H&M
External Brand Coordinator
Permanent · Stockholm
H&M
External Brand Expansion Coordinator
Permanent · Stockholm
H&M
Print Design Assistant - h&m Home
Permanent · Stockholm
H&M
Product Designer - h&m Home - 6 Months Fixed Term Contract With The Possibility of Prolongation - From February 2020
Fixed-term · Stockholm

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.