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Oasis and Warehouse report online-driven sales and profits growth

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Oasis and Warehouse report online-driven sales and profits growth

Ecommerce drove sales growth at the Oasis and Warehouse Group in a financial year focused on transformation the way its businesses sell across channels.

 

Online sales grew by 17% over the 53 weeks to March 2 2019, compared to the previous year, to account for 30% of overall sales. Total sales of £293.2m were up by 6.5% last time. EBITDA (earnings before interest, tax and asset writedowns) grew by 20% to £11.5m from £9.6m last time. Like-for-like sales on a 52-week comparative basis were up by 0.2% and turnover down by 2% as unprofitable stores close. EBITDA was up by 17% on a 52-week basis,

 

Oasis’ transformation strategy has focused on digital strategy and on its stores - opening new “local” shops in five towns including Dorchester and Haslemere – as well as on wholesale, licensing and international sales. More local stores are planned for the current financial year, while the retailer is also selling in shop-in-shops in branches of Sainsbury’s supermarkets. The womenswear fashion retailer is ranked Top50 in IRUK Top500 research.

 

At fellow womenswear business Warehouse, a Top350 retailer in IRUK Top500 research, digital sales grew by 21% thanks, said the company, to a “robust social and digital strategy”, while the retailer also focused on products and brand strategy in a year that saw it complete its turnaround strategy.

 

Oasis and Warehouse Group chief executive Hash Ladha, reporting his first results since being appointed last October, said a strong group performance had come despite a challenging retail environment.

 

“Headwinds and structural challenges will continue to impact UK retailers; these, coupled with the uncertainty of Brexit, will continue to have an effect on consumers’ spending behaviour making the trading environment difficult," he said. "I believe that we have two well-invested innovative brands which continue to resonate with customers and continue to remain modern and relevant.

 

“Whilst we do not expect conditions to materially improve in the medium term, our continued focus on efficiencies, combined with our strategy to continuously drive product innovation, brand and customer experience positions us well for the future.”

 

Oasis sells through 11 websites and 323 owned stores, including 81 branches and 231 concessions in the UK, Ireland and Europe, as of March 2. It employed an average of 2,165 people over the year. A further 83 franchise stores operate in Europe, the Middle East, the Far East and South America.

 

Warehouse sells from 12 websites and 252 stores including 28 branches and 212 concessions in the UK and Europe. Over the period it employed an average of 1,159 people. It also has 60 franchise stores in Europe, the Middle East, the Far East and South America.

The group also bought the Idle Man menswear pureplay and fashion brand in September 2019.

 

Image courtesy of the Oasis Warehouse Group

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