BRANDE, Denmark, 2016-Nov-24 — /EPR Retail News/ — BESTSELLER’s* annual report shows a turnover of EUR 3.07 billion and a result before tax of EUR 273 million.
“In the past financial year we have experienced a 5% growth in our total turnover. Moreover, last year’s result has doubled to EUR 273 million, which was the ambition we set for ourselves last year,” says Anders Holch Povlsen.
The positive result reflects an increased effort in many parts of the company:
“Again this year, our wholesale activities form the basis of our growth. This combined with an increased focus on costs – including the closing of a number of unprofitable stores and streamlining parts of the organisation – has resulted in a satisfactory financial year,” Anders Holch Povlsen elaborates.
“Especially in southern Europe and England, we have seen great progress, while we in our largest market, Germany, have experienced a small growth. The results in Scandinavia have not been satisfactory, which is also the case for India, Turkey and the Middle East,” Anders Holch Povlsen continues.
“Both our own and our partners’ online activities constitute a growing and increasingly important part of our business. Going forward, we need to focus even more on our digital growth and on ways of reaching our consumers digitally. However, we need to remember that wholesale and retail still represent 80% of our business,” says Anders Holch Povlsen.
Expectations for the future
“Our expectations for the current financial year is to deliver a result corresponding to this year. We need to make sure that we are as competitive and attractive as possible in order to meet our customers’ growing expectations. To continue to make the most of our potential and gain market shares, we must focus on our values and the unity that has been built in BESTSELLER through the years. We have the strength, the courage and the drive to fight for our opportunities and position in the market,” states Anders Holch Povlsen.
“I would like to take the opportunity to thank our many talented colleagues and collaboration partners for their dedication and hard work during the past year. Their efforts have led to us reaching our goal of doubling our result despite challenges in parts of our business,” Anders Holch Povlsen finishes.
KEY FIGURES FOR THE ANNUAL REPORT 2015/16*
Net Turnover: EUR 3.07 billion
Result before tax: EUR 273 million
Total equity: EUR 1.49 billion
Markets: Europe, the Middle East, North America, Latin America, Australia and India.
*All figures are consolidated figures for BESTSELLER A/S and VILA A/S.
BESTSELLER’s sustainability report 2015/16 is available at about.bestseller.com/sustainability Friday 25 November.
Phone: + 45 99 42 32 00