// The Oasis and Warehouse Group total sales up 6.5% in the 53 weeks to March 2
// Like-for-like sales were up 0.2%
// Fashion retailer Oasis opened five new “local” stores in the period
The Oasis and Warehouse Group has recorded a rise in sales and profits despite a “difficult” trading environment.
In the 53 weeks to March 2, the retail group saw its EBITDA increase by 20 per cent to £11.5 million, Drapers reported.
Total sales at the group were up 6.5 per cent, compared with £293.2 million in 2017/18, while online sales for the period were up 17 per cent, and now represent 30 per cent of the total.
Like-for-like sales were up 0.2 per cent, and total turnover was down two per cent, which was blamed on the planned closure of 11 unprofitable stores.
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Meanwhile, Warehouse said it completed its turnaround strategy and returned to profitability on a full-year basis, during the period.
The retailer said this was driven by a product proposition that resonated with existing customers, and a brand strategy that has engaged new customers.
Online sales at Warehouse grew by 21 per cent in the period as the retailer reported “significant” wholesale and international growth.
Meanwhile, fashion retailer Oasis opened five new “local” stores in Dorchester, Haslemere, Ilkley, Ringwood and Tenterden during the year, with further opening plans for 2019/20.
The retailer attributed the success of its expansions to the growing sales of its bridesmaids and curve collections during the year.
Oasis also opened five shop in shops in branches of Sainsbury’s supermarkets.
On September 10 this year, the Oasis and Warehouse Group acquired online menswear retailer The Idle Man.