UK: Monsoon Accessorize returns to profit
- Full-year pre-tax profit of GBP18.1m
- Group turnover up 4.3% to GBP551.9m
- Helped by improved product ranges
UK apparel and accessories retailer Monsoon Accessorize has returned to profit, driven by improved product ranges and reduced levels of discounting.
The privately-owned company saw pre-tax profit reach GBP18.1m (US$29.7m) for the year to 31 August, compared to a loss of GBP2.4m in the same period of the prior year.
Underlying group turnover, meanwhile, grew 4.3% year-on-year to GBP551.9m.
In the UK and the Republic of Ireland, sales edged up 0.4% to GBP468.4m, while international sales jumped 33.4% to GBP83.5m. During the year, the company closed 35 stores taking its total to 1,437.
Founder Peter Simon said: "This is a good set of results demonstrating a year-on-year recovery. The appointment of John Browett as CEO and the recovery in performance of the group's brands provide a good platform for the business to move on to the next stage in its development.
The company, Simon added, has identified a number of initiatives to build on the group's strengths and support growing demand for its products.
"While we strive for further improvement I am determined that the main focus will remain as always on both product and the customer. Being debt free we have the resources to invest in developing the business."
Through TV shows such as Austria’s Next Top Model, female consumers in particular are becoming more aware of how to combine clothes with accessories to make the best of their outfits. They can even se...
Plimsoll Publishing’s CLOTHING RETAILERS (Italy) Analysis provides a detailed overview of the CLOTHING RETAILERS (Italy) market and delivers a comprehensive individual analysis on the top 620 companie...
- Why should brands care about China cotton?
- New Gap CEO set to tackle “aesthetic issue”
- Low labour cost countries linked to highest risks
- China cotton: implications and opportunities
- Falling euro adds to Bangladesh production woes
- M&S Asia head quits as China stores to close
- Gap names new design head amid mixed Q4
- JC Penney share price falls on Q4 loss
- Pay rise mulled for Sri Lanka garment workers
- Delta Galil open to M&A as profit grows
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Outdoor performance apparel: peaks, valleys, and green fields
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Global market review of swimwear - forecasts to 2019