85
Fashion Jobs
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
PUMA
Quality Engineer Cobra
Permanent · HO CHI MINH CITY
PUMA
Key Account Manager, Marketplace E-Com
Permanent · HO CHI MINH CITY
Published
Apr 19, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

Studio Retail sales soar, ends sale process

Published
Apr 19, 2021

Studio Retail Group updated on its recent performance on Monday and also shared the news that it's no longer for sale. The company said it had received plenty of non-binding offers for the business, but its recent strong trading suggests that it can create greater value for shareholders as a pureplay retailer via Studio.co.uk.


Studio.co.uk



To further this ambition it has also sold its Findel Education operation for around £30 million.

Studio, which sells fashion and general merchandise at value prices, said it saw a record trading performance in the year to March 26. And its adjusted pre-tax profit from continuing operations should sit between £48 million and £50 million, which would be up between 75% and 83% compared to the previous year. 

Its medium-term goal is to achieve revenue of £1 billion. It’s clearly nowhere near that yet (in its latest half-year, its revenue was £268 million), but it’s still in a good place.

It didn’t put financial figures on what happened in Q4, but it said that trading in the traditionally quieter final quarter was “exceptionally strong”. Product sales in Q4 were 88% ahead of the prior year, with gross margin rates from product sales 650bps higher. This performance contributed to product sales growth of 43% for the full year, with gross margin rates up 290bps year-on-year. Over the period, government support was either repaid or not claimed and had no impact on profitability.

It also said that the business has seen a step-change in its active customer base this year. The total customer base of 2.5m was up 36%. 

And the proportion of sales coming from the Studio App, downloaded by over a million customers, increased to 25%+ during Q4. 

CEO Paul Kendrick said of all this: “Studio has seen strong trading during the financial year whilst successfully managing the operational challenges of the pandemic, which, along with the sale of Findel Education, creates a step-change in our financial position.  We start the new financial year from a position of focus and strength, with the growth in our customer base demonstrating the success of our leading online value retail and integrated financial services offer.”

Copyright © 2024 FashionNetwork.com All rights reserved.