×
192
Fashion Jobs
OJB HERBALS
Area Sales Manager
Permanent · Ranchi
LIVE BIOTECH PRIVATE LIMITED
Area Sales Manager, Regional Sales Manager, Zsm
Permanent · Chennai
KM ELECTRONIC CABLES PVT. LTD
Area Sales Manager - Vijayawada
Permanent · Chennai
CTA APPARELS PVT. LTD
Opening For Merchandising Manager- Noida(Garment Export)
Permanent · Noida
CTA APPARELS PVT. LTD
Opening For Merchandising Manager- Noida(Garment Export)
Permanent · Noida
STAR UNION DAI ICHI LIFE INSURANCE (SUD LIFE)
Hiring- Area Manager - Bancassurance- Kolkata Metro
Permanent · Kolkata
NIKKO & CO.
Area Sales Manager /Sales Officers(5-10 Yrs Into Fmcg)
Permanent · Karimnagar
FUTURE GENERALI
Opening For Area Manager in Bangalore With Future Generali li
Permanent · Bengaluru
INFEXN LABORATORIES PRIVATE LIMITED
Area Sales Manager
Permanent · Mumbai
LENSKART
Area Operations Manager
Permanent · Chennai
WALPLAST PRODUCTS
Opening For Manager Sales - Walplast Products Pvt. Ltd. (Pune)
Permanent · Pune
ADECCO INDIA PRIVATE LIMITED
Job Opening For Area Sales Manager Role For Mnc Company
Permanent · Bengaluru
DR LAL PATHLABS
Area Sales Manager -Chandigarh
Permanent · Chandigarh
JOB INDIA
Regional Manager Sales (Backend Operations)Garments - Gurgaon
Permanent · Faridabad
MANPOWERGROUP SERVICES INDIA PRIVATE LIMITED
Area Sales Manager/sr.Area Sales Manager
Permanent · Kolkata
HERITAGE NUTRIVET LIMITED
Cattle Feed - Area Sales Manager - Salem Location
Permanent · Salem
THINK FIRST DIGITAL
Hiring For Event Production Manager - Mumbai
Permanent · Mumbai
LUPIN
Opportunity For Area Manager - Mass Marketing - Lupin Ltd
Permanent · Pune
SOBHA
Manager - Sales at Sobha Nesara, Kothrud - Pune
Permanent · Pune
PETPOOJA
Area Sales Manager || Software Sales (Pos) || Petpooja
Permanent · Navi Mumbai
FLEETX
Assistant Area Sales Manager/ Area Sales Manager
Permanent · Haldia
FLEETX
Area Sales Manager
Permanent · Tirunelveli
Published
Nov 20, 2017
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Denim upgrade and web sales boost Bonmarché interim results

Published
Nov 20, 2017

Has the devastation of the UK high street made a dent at the value and older end of the fashion market? Bonmarché gave us some clues on Monday when it issued results for six months to September 30.


Bonmarché



The company is one of the UK's largest women's value retailers and it seems to have seen good progress, even though the figures don’t include October, which is when retail the downturn really took hold in Britain.

The company said that total revenue rose 5% to £97.8 million with comparable sales up 4.3%. While store-only comp sales rose just 1.6%, any rise in the current environment is good news. And online sales rocketed with a 38.6% increase, “driven by multiple improvements to customer experience and supported by stronger product ranges.” Meanwhile the product gross margin remained level year-on-year so the company was clearly able to maintain and improve its profit levels.

In fact, it improved on a number of fronts. Underlying pre-tax profit rose over 70% to £4.2 million. And post-tax profit rose to £4.2 million too, but that figure was up over 114%. And the all-important cash-flow was stronger - its net cash at the end of the period was £14.9 million compared to £9.8 million a year ago.

Importantly too, the company said it grew its market share “in a difficult trading environment”. Its share of the 50+ segment of the ‘women's outer/sportswear’ market increased from 3.2% to 3.6% for the 24 weeks ended 24 September, according to Kantar Worldpanel.

It was helped by the weather during the first half being overall “more favourable than last year,” which is interesting as that’s not something we’ve heard from any other retailer so far this results season.

PRODUCT IMPROVEMENTS

Aside from the weather, Bonmarché said that its “improved cross-functional working led to progress in each of the company's five key strategic areas - product, online, loyalty, stores and systems/processes.”

Performance improvements during the half year were helped by a higher quality, more “authentic” denim offer, by the firm offsetting higher input costs caused by the weak pound through a lower level of discounting, by store and website upgrades, by better point of sale material, by better VM and more.

In fact, the investment in denim was crucial as it led to a 50% sales increase compared to its previous denim offer. And it also boosted its leisurewear, blouses, and swimwear/Holiday shop product. The discontinuation of peripheral product categories such as Ann Harvey and menswear also helped to make better use of space and drive improved product/sales density.


Bonmarché



And the company said its trading model is becoming increasingly agile  so it can deliver product in a much shorter space of time, allowing it to respond better to trends in taste and the weather. 

An example of how this has improved performance was in leisurewear, where it was able to buy more at the expense of jersey tops, which were performing less strongly. And at the end of September, it was 50% committed to orders for the forthcoming spring 2018 ranges, whereas at the same time last year its commitment was nearer 80%.

It said the focus in the future will be on product categories “in which our market share under-indexes the market, for example dresses, which is the most searched for online category, and in relation to which, we have also identified the opportunity to make improvements to our proposition.”

Let the good times roll.

Copyright © 2022 FashionNetwork.com All rights reserved.