Home / Knowledge / News / Apparel/Garments / Core business drives FY14 pretax profit 21% at Bestseller
Core business drives FY14 pretax profit 21% at Bestseller
01
Dec '14
Driven by its core business, European fashion retailer, Bestseller reported a 21 per cent year on year surge in pretax profits for the fiscal year 2013-14.

Pretax profits rose 21 per cent from the previous fiscal year to €228.2 million in fiscal year 2013-14 mainly from contributions from its core business.

However revenue rose much slower at 5 per cent as against the last fiscal year and climbed to €2.7 billion in the reporting period.

“A 21 per cent increase in the bottom line indicates positive signs of improvement and it’s our core business that contributed to the positive results,” said CEO, Anders Holch Povlsen.

“Through an increased focus and through an even closer collaboration with our partners and customers, we have managed to grow and deliver better results in a challenging market,” he added.

”Our goal is that available digital options become a larger part of Bestseller’s DNA, and that the link between physical stores and online activities become even more natural," he informed.

Bestseller plans to continuously develop and strengthen its skills in order to be among the best in a tough market.

The retailer said it will focus on its product development and live up to increasing expectations from its customers, when it comes to always delivering the latest trends.

Povlsen credited employees of Bestseller by saying, “Our employees and partners have performed very well in the past year and they deserve great credit for the results.

“Looking ahead, we have launched several initiatives and there are many opportunities yet to explore, so we look forward to our 40th anniversary with great confidence in the future,” he concludes. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

(left to right) Rohit Munjal, Ashok  Shah, Rahul Mehta, Premal Udani, Rajesh Masand and Jayesh  Shah

Textiles | On 28th Jun 2017

CMAI to host 822 exhibitors at 65th National Garment Fair

The Clothing Manufacturers Association of India (CMAI) will host over ...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search