Oasis has revealed a jump in annual profits and online sales, as group stablemate Coast successfully completed the final stage of its three-year turnaround plan.
Sales at Oasis for the year to 28 February were up 2.4% £160.1m, while EBITDA soared 36.8% to £11.9m. Online sales were up 17.5%, and now represent 21% of total sales.
During the year Oasis launched product extensions in loungewear and athleisure and increased its size offering to include size 6 and size 18. It also launched new dress lengths.
The brand opened four new stores, two concessions and 23 franchise stores during the period, taking its total at year end to 84 stores, 200 concessions and 99 franchise stores.
At Coast sales for the year were up 5.6% to £85.2m. EBITDA was £3.4m, this compares to a pre-tax profit of £1.3m in 2016 which was up from a loss of £10.8m in 2015.
Online sales were up 12.1% year on year and now make up 30% of total sales.
At Year End, Coast operated 24 stores, 194 concessions and 61 franchise stores.
Warehouse relaunched half way through the financial year in September 2016 and the firm said investment was made across the brand and infrastructure “to lay the right foundations” for future growth had been implemented.
Sales for the period were down 12.9% on the prior year, and the retailer made an EBITDA loss of £5.8m. At Year End, Warehouse operated 49 stores, 217 concessions and 84 franchise stores.
In current trading, like-for-like sales across the three brands were up 4.9% for the first half, fuelled by a strong performance at Oasis.
Online sales across the group were up 18.5% for the first six months of this financial year.
The group added it had experienced an “improved trading performance from Warehouse suggesting the transformation programme is starting to deliver.”
The owner of Oasis, Warehouse and Coast, Icelandic bank Kaupthing, called off the sale of the high street womenswear chains last month saying the market did “not currently recognise the value” in the businesses. It added that it was under no pressure to sell.