86
Fashion Jobs
SHISEIDO
K-Key Account Lead
Permanent · HO CHI MINH CITY
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
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
Published
Sep 23, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

Warpaint London sales and profits fall but outlook is brighter

Published
Sep 23, 2020

Beauty manufacturer and brand owner Warpaint London said on Wednesday that the first six months of the year saw its sales falling 29% to £13.5 million as a result of Covid-19 restrictions in the UK and internationally.


W7



That said, the W7 and Technic owner said UK revenue fell a smaller 12% to £6.8 million. International revenue was the big problem with a 40% plunge to £6.7 million.

However, the gross profit margin increased to 35.1% from 34.9% and it still managed to make an adjusted operating profit. It made £0.4 million, down from £1.3 million a year ago.

It had more good news too, saying a core range of 100+ W7 products initially displayed in 56 Tesco Extra stores across the UK has now increased to 190 products. Additionally, an impulse range has been developed and is now on display in 41 Tesco Express stores, taking the total number of Tesco stores selling its product to 97. Sales in those stores “have exceeded the directors' expectations”.

And roughly 100 exclusive Body Collection branded products are now stocked in 355 Wilko stores and over 115 different Technic branded products are stocked in 189 of the shops. A range of Technic and Body Collection gift sets will be stocked in Wilko from October 2020 for the Christmas shopping period.

Also looking at Christmas, despite Covid-19, its Retra brand has a “significant Christmas order book underpinning H2 outlook”. Retra's order book was £8.4 million at 30 June, which is lower than the £10.1 million of a year earlier, but is still strong.

The company said it has taken action in the US at its LMS unit to reduce its cost base, improve margins and provide a full range of group products and brands.

And the firm’s expansion strategy continues “with active discussions being held with additional major retailers in the UK and overseas”. It has also accelerated its UK and US online strategy. 

It all means sales for H2 “have recovered well after the Covid-19 lockdown and are steadily approaching the company's monthly budget levels set for 2020 prior to the Covid-19 pandemic”. For the eight months to 31 August, it had unaudited sales of £22.8 million and adjusted profit from operations of £0.7 million.

The company’s current expectation is that sales for the year will be approximately £37 million, which should generate adjusted profit from operations “in excess of £2 million”, on the assumption that there’s no material decline in trading conditions as a result of additional Covid-19-related lockdown measures nor any adverse exchange rate movements.

Copyright © 2024 FashionNetwork.com All rights reserved.