article thumbnail

Oroton trebles profit after rigorous cost-control measures

Inside Retail

Luxury fashion retailer Oroton Group says its profit more than tripled on the back of higher sales and stricter cost and inventory management in FY23. The company booked a net profit of $8.2 million in the 12 months ended July 30, up 3.5 times from last year.

article thumbnail

Wesfarmers results jump as Bunnings, Kmart and Officeworks boom

Inside Retail

Wesfarmers has joined in the parade of businesses reaping the rewards of a strong year of trade, despite ongoing movement restrictions, signaling a 40 per cent jump in net profit to $2.38 Revenue at Bunnings increased 12.5 billion (up 10 per cent) over the last 12 months, according to managing director Rob Scott.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

SHEIN Opens Dublin HQ, Plans 30 Pop-Up Events Across Increasingly Important EMEA Markets

Retail TouchPoints

SHEIN generated $23 billion in revenue and net profits of $800 million in 2022, people close to the company told WSJ. The company has reportedly set a target to grow revenue by 40% this year, which will be propelled, at least in part, by an expansion of its EMEA business.

Planning 229
article thumbnail

Coles pockets $1 billion profit as Smarter Selling pays off

Inside Retail

Coles’ Smarter Selling strategy is paying off for the Australian supermarket giant, with approximately $300 million in extra savings in the bank at the end of FY21. At its full year results announcement on Wednesday morning, Coles revealed that net profit broke the one-billion-dollar mark, rising 2.8 per cent on 2020. “We

article thumbnail

How customer loyalty helped Myer bounce back

Inside Retail

After a rollercoaster six months of lockdowns, Christmas and Omicron, department store Myer yesterday delivered a strong half year result with net profit up 55 per cent and its first dividend payment since FY17. Loyalty is king. Myer One has always been key to our business.

article thumbnail

Coles signals FY23 to be a year of investment and inflation

Inside Retail

The business unveiled its FY22 performance on Wednesday morning, and said sales and earnings remained flat on a year prior and net profit edged 4.3 Modernisation, at a cost. per cent higher to $1.04 As it stands, Coles’ prices grew 1.7 per cent throughout the year, though spiked 4.3 per cent in the last quarter.

article thumbnail

Coles’ challenges for the year ahead: reining in costs and retail crime

Inside Retail

Despite consumers’ changing spending habits, Coles delivered a positive result on Tuesday, with sales at the Australia supermarket chain slightly up year on year. And while net profit was slightly down from FY22, this still resulted in more than $1 billion being added to the business.