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Step One’s net profit surges 43.9 per cent

Inside Retail

Step One Clothing ‘s net profit surged in the last fiscal year, thanks to higher revenue across all its geographies and channels. The underwear retailer’s net profit soared 43.9 The post Step One’s net profit surges 43.9 per cent to $12.4 million as revenue jumped 29.7 per cent to $84.5

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Universal Store’s net profit surges 45.3 per cent

Inside Retail

Universal Store Holdings saw its net profit surge 45.3 per cent, ongoing rollout of the Perfect Stranger’s retail format, completion and contributions of the Cheap Thrills Cycles (CTC), and the net store count increasing to 102. . CTC’s sales in the direct-to-consumer channels jumped 13.3 per cent to $34.3

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Super Retail Group’s sales increase amid new store openings

Inside Retail

The company’s sales grew 3 per cent from last year to $2 billion while statutory net profit after tax slightly declined by 1 per cent to $143 million. Meanwhile, Rebel’s sales fell minimally by 1 per cent, reflecting weaker consumer spending.

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Analysis: a perfect retail storm is brewing

Inside Retail

Inflationary pressure on consumer discretionary spending, supply chain disruptions and elevated inventory levels, which tie up a retailers’ net working capital, are set to create the perfect storm for retailers that do not have a strategy in place to ensure they are well positioned for the choppy market conditions ahead.

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Three brands blamed for Myer’s projected profit decline

Inside Retail

Myer has flagged a drop in profit for this fiscal year, largely due to underperformance at its three specialty brands amid macroeconomic challenges. The department store chain expects net profit after tax of between $50 million and $54 million for FY24, compared to $71.1 million in the prior year.

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Mosaic Brands names Erica Berchtold as new CEO

Inside Retail

“The huge shift to online in recent years also provides an enormous amount of data and information about those consumers’ shifting expectations and choices which will drive our strategy and direction,” said Berchtold. “Low price is also not the antithesis of style. million despite revenue decreasing 12.5 per cent to $234.1

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Best & Less reports ‘inconsistent’ trading, revises profit expectations

Inside Retail

BLG executive chair Jason Murray said consumer confidence has been at “historic lows” yet the business is “optimistic” for sales growth. “We Sales improved in the lead-up to Mother’s Day and have been consistent since, while BLG’s non-discretionary product lines are continuing to perform well.