Cath Kidston sees sales growth but fails to stem growing losses

BEN STEVENS | December 12, 2018

article image
Cath Kidston saw sales edge up over its last financial year, but failed to stem losses in the wake of “increased cost pressures from the weaker sterling”. In the 52 weeks to March 25, the fashion and lifestyle retailer saw group sales edge up 1.2 per cent to £130.7 million, driven by strong growth in the UK and Japan. Domestic sales in the UK grew 5.1 per cent to £91.3 million despite major changes to its store estate, having opened seven stores, closed seven stores and relocated a further four. It said this strategy was aimed at optimising its store portfolio maximising footfall by moving into train stations and airports, aiming the sure up its physical operations against the growing troubles on the high street. Despite taking measures to offset wider economic factors, the brand made an EBITDA loss of £10.5 million, up from an £8.4 million loss in 2017, attributing the loss to adverse currency movements since the Brexit vote.

Spotlight

Travel Retail Solutions

Travel Retail Solutions works on behalf of a number of major suppliers offering a fast and cost effective route into the Travel Retail market covering airlines, airports, ferry and cruise operators around the world.

OTHER ARTICLES

Top 6 Best Retail POS Systems For 2020

Article | April 16, 2020

A retail POS system is a system that includes customer display, barcode scanner, receipt printer, cash drawer, monitor, computer, and debit/credit card reader. POS systems offer the functionalities of CRM to interact with the customers or integration with an existing CRM system, sending of email & text messages, loyalty reward program, updating contact records, and functions for setting an appointment.

Read More

How to Boost Donations Through Online Point-of-Sale Fundraising

Article | April 16, 2020

According to data firm Statista’s most recent e-commerce outlook, Americans will spend over $1,500 online each over the next 12 months. Moreover, that number is expected to surge even higher as Americans opt to do their holiday shopping online rather than wind their way through those infamous, in-store holiday crowds. If your nonprofit is able to turn that online shopping activity into a fundraising stream, there’s massive potential to boost donations. And the good news is that it’s not incredibly difficult to get started. Below, we’ll walk through how you can get your organization set up to accept these donations during your community’s online point-of-sale moments. First, however, we’ll explore the overall value of point-of-sale fundraising and why you need to consider it as a viable strategy for your nonprofit.

Read More

Retail supply chains will be held liable for price gouging

Article | April 16, 2020

Texas Attorney General Ken Paxton today issued a stern warning to retail suppliers, including those who supply grocery stores and pharmacies, that state law strictly prohibits price gouging in the wake of a declared disaster. Price gouging laws apply to any person or entity selling necessities at an exorbitant or excessive price after a disaster has been declared by the Governor or President. This prohibition includes those who supply retailers. Under the Texas Deceptive Trade Practices Act, any price-gougers may be required to reimburse consumers and may be held liable for civil penalties of up to $10,000 per violation with an additional penalty of up to $250,000 if the affected consumers are elderly.

Read More

Macy's Furloughs Workers, and Other Retail News Related to the COVID-19 Crisis

Article | April 16, 2020

Retailers are continuing to lay off and furlough workers due to the coronavirus uncertainty. Macy's announced this morning that the majority of employees for the Macy’s, Bloomingdales, and Bluemercury brands will go on furlough beginning this week. U.S. clothing rental firm Rent the Runway also said on Saturday it had laid off retail employees following temporary store closures amid the ongoing coronavirus outbreak. “Like many businesses affected by the COVID-19 pandemic, Rent the Runway has had to make some difficult decisions in the short term to thrive in the long term, which include temporary store closures and retail role eliminations,” a company spokeswoman said in an emailed statement to Reuters. Last week, Everlane laid off and furloughed more than 200 workers, including retail and those operating back-end functions, as it struggles to cope with the shutdown of its retail business over measures to reduce the spread of the coronavirus.

Read More

Spotlight

Travel Retail Solutions

Travel Retail Solutions works on behalf of a number of major suppliers offering a fast and cost effective route into the Travel Retail market covering airlines, airports, ferry and cruise operators around the world.

Events