Oasis and Warehouse Group hails full year performance
The Oasis and Warehouse Group achieved a 35% increase in operating profit in the 53 weeks to 2 March.
Total sales were up 6.5% to £293.2 million while EBITDA rose by 20% to £11.5 million.
As Warehouse completed its turnaround strategy, it also returned to profitability. This was driven by a strong product proposition and a new brand strategy aimed at engaging new customers.
Meanwhile, Oasis continued to build on the success of its product extensions including its bridesmaids and curve collections. It also opened five new stores in Dorchester, Haslemere, Ilkley, Ringwood and Tenterden and signed a deal with Sainsbury’s for supermarket concessions.
Hash Ladha, chief executive of Oasis and Warehouse Group, said: “I am delighted to report another strong performance for the group 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 consumer’s spending behaviour making the trading environment difficult.
“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.”
