Sales and profits increase at Oasis and Warehouse Group

For the 53-week period to March 2, 2019, the Oasis and Warehouse Group delivered 0.9 million pounds (1.1 million dollars) or 35 percent increase in operating profit on the previous year. The company’s total sales were up 6.5 percent to 293.2 million pounds (364.5 million dollars) and EBITDA was up 20 percent to 11.5 million pounds (14.3 million dollars) on the same period last year. The company said, excluding the 53rd Week, the group delivered a 17 percent increase in EBITDA on a 52-week like-for-like basis.

Commenting on the full year trading, Hash Ladha, CEO of Oasis and Warehouse Group, said in a statement: “I am delighted to report another strong performance for the group despite a challenging retail environment. Headwinds and structural challenges will continue to impact UK retailers; these, coupled with the uncertainty of Brexit, will continue to have an effect on consumer’s spending behaviour making the trading environment difficult. Whilst we do not expect conditions to materially improve in the medium term, our continued focus on efficiencies combined with our strategy to continuously drive product innovation, brand and customer experience positions us well for the future.”

Online sales for the period were up 17 percent for the group, with online now representing 30 percent of sales overall. Total 52-week like-for-like sales were up 0.2 percent and total turnover was down by 2 percent driven by the planned closure of unprofitable stores.

The company added that Warehouse completed its turnaround strategy and returned to profitability on a full year basis with digital growth of 21 percent. Oasis, on the other hand, opened five new “local” stores in Dorchester, Haslemere, Ilkley, Ringwood and Tenterden. Over the period, the brand also announced a new strategic partnership with Sainsburys to open shop-in-shops. In total five stores in Sainsbury’s supermarket were opened over the financial year, with new openings planned in the coming 12 months.