THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Lush profits down 4%

Lush, the bath and beauty products retailer, increased its turnover by 10% last year but saw pre-tax profits fall by 4% due to declining sales at its Japanese business.

CITY & CORPORATE

Lush profits down 4%

Lush, the bath and beauty products retailer, increased its turnover by 10% last year but saw pre-tax profits fall by 4% due to declining sales at its Japanese business.

In the year to 30 June 2011, the company’s turnover rose to £272.2 million from £247.2 million in 2010.  Like-for-like sales increased by 3.9% as the company expanded its store base.

However, pre-tax profits declined to £21.3 million from £22.3 million in 2010 which Lush said was partly due to a fall in profit from its Japanese business following last year’s earthquake.

The company said: "The contribution from Japan declined but there was encouraging profit growth in most other countries. Give the turbulent economic conditions and other major challenges that were experienced, in particular the earthquake and tsunami in Japan, the result for the year is considered encouraging."

"The like-for-like growth reflects excellent growth in the US, mainland Europe and Russia offset by a continued decline in Japan. However Japan closed the year recording its first positive like-for-like for 29 months and this has continued into the start of the new financial year."

The company ended the financial year with a total 728 shops. It opened 105 new stores in the year and closed 48. Staff numbers increased from 4,581 in 2010 to 5,007 in 2011.  

Chief executive officer Andrew Gerrie commented: "Although we’ve had some challenging trading conditions of late, the global market is still an exciting place for Lush. We are fortunate to have great management, alongside innovative new products. This makes for a profitable business spread across a number of countries and for that reason we remain optimistic about the future."
 

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process