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Aurora reshapes management after earnings growth


Fashion retail group Aurora Fashions has posted a 36 per cent rise in EBITDA and announced a new management system in its half-year results statement published today.

Like-for-like sales rose five per cent in the six months to July 31st, whilst online sales grew an impressive 34 per cent during the period.

Aurora also announced the recruitment of managing directors at each of its retail brands, Coast, Karen Miller, Warehouse and Oasis, for the first time.

Mike Shearwood, CEO of Aurora Fashions, said: “I am delighted that our successful performance last year has continued into the first half of 2010. As a result, we are now accelerating the next phase of our strategic growth plans.”

Global retail sales totalled £362 million whilst EBITDA reached £17.8 million during H1, and Aurora also opened 37 new stores in the half.

Making up the new management team is Margaret McDonald, the former LK Bennett CEO, who replaces Liz Evans as MD of Coast, with Evans taking over as MD of Oasis.

Meg Lustman is to become MD at Warehouse following her previous role at the group as Chief Strategy Officer, whilst Gemma Metheringham and Steve Price will now be joint MDs of Karen Miller.

Shearwood added: “Appointing MDs to each of our brands is a significant milestone and demonstrates we have now moved, earlier than originally planned, into the next stage of our development. Our focus is on growth.”

Published on Monday 08 November by Editorial Assistant

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