×
2 818
Fashion Jobs
AESOP
Cybersecurity Operations Manager UK
Permanent · London
BOOHOOMAN
Senior CRM Executive
Permanent · MANCHESTER
HARRODS
Buyers Clerk (Food)
Permanent · LONDON
HARRODS
Lead Art Editor
Permanent · LONDON
JOHN LEWIS
Brand Experience Manager
Permanent · HIGH WYCOMBE
JOHN LEWIS
Section Manager – Training
Permanent · MILTON KEYNES
SUPERDRY
Internal Audit Manager
Permanent · CHELTENHAM
ESTEE LAUDER
Clinique - Consultant - Selfridges, London - 15 Hours, 2 Days - Part Time, Permanent
Permanent · Londres
ESTEE LAUDER
Tom Ford Beauty - Product Manager (Fragrance)
Permanent · Londres
ESTEE LAUDER
The Estée Lauder Companies - UK dc Warehouse Operative – Goods in (Tuesday-Friday 06:00 - 14:00 & Saturday 08:30 – 16:30)
Permanent · Fareham
AESOP
Retail Consultant | Full Time | Aesop Northcote Road, London
Permanent · London
AESOP
Retail Consultant | Part Time | Aesop Northcote Road, London
Permanent · London
AESOP
Retail Consultant | Full Time | Aesop Richmond, London
Permanent · Richmond
AESOP
Retail Consultant | Part Time | Aesop Richmond, London
Permanent · Richmond
BOOHOO GROUP
Warehouse Operative - 3on/3off - 14:00-02:00
Permanent · CRICK
COAST
Art Director
Permanent · LONDON
BERSHKA
General Manager - Bershka Blanchardstown
Permanent · DUBLIN
ZARA HOME
Zara Home White City - General Manager (Maternity Cover)
Permanent · LONDON
SELFRIDGES
Finance Systems Analyst
Permanent · LONDON
URBN
Urban Outfitters Performance Marketing Manager - London, UK
Permanent · LONDON
HARRODS
Senior Buyer's Clerk - Accessories
Permanent · LONDON
HEAD OFFICE
Head Chef Food Production – Victoria Head Office
Permanent · LONDON
Ads
Published
Feb 16, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Tough times in Australia for MySale, H1 hit by Omicron, supply issues

Published
Feb 16, 2022

Tough trading conditions in its core Australia market hit MySale in the six months to 31 December, the London-listed online fashion and lifestyle retailer has admitted.


MySale


The company’s problems were two-fold as it invested in more own-label items. There was subdued demand, driven by the speed of the spread of the Omicron variant in Australia, and delays in stock deliveries prior to Christmas, meaning inventory built up to a higher level than expected  — A$6.1 million (€3.84m/£3.22m/US$4.38m) by the end of the Christmas period.

And with those trading headwinds continuing throughout January and February to date, the MySale board is now “considering a number of strategic financing options… to manage its working capital, including reducing the A$6.1m inventory balance”.

So how tough was H1? Total revenues declined 6% to A$59.7 million while underlying EBITDA fell to A$1 million from A$2.5 million recorded in H1 FY21, rocked by supply chain volatility in Q2, it noted.

On the upside, Gross Merchandise Value increased 36% to A$86.7 million, “reflecting progress in scaling the group's off-price marketplace platform”, gross profit inched A$0.8 million ahead to A$24.9 million and gross margins improved to 41.8% from 38.1% in the year-ago period.

So given its recent trading trends, MySale said it is taking a “cautious approach to its full-year outlook and will provide further detail in due course”.

CEO Kalman Polak added: "The new management team has continued to scale our marketplace platform, which is complemented by our own-stock channel. The group has worked hard to navigate recent headwinds in lower consumer demand driven by the impact of the Omicron variant and supply chain challenges.” 

He added: “The group's increased inventory position is of a of high quality. Notwithstanding these challenges, we remain confident and are well positioned to capitalise on the long-term opportunity for the group.”

Copyright © 2022 FashionNetwork.com All rights reserved.