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Employees & due diligence costs hit retailer COLORADO's profits
23 Mar '06
3 min read
“As a result of lessons learnt last year, we are taking action to accelerate growth initiatives in the areas of brands, products and infrastructure with strong attention to cost control.
“These initiatives include improved alignment of our people, incentives and structure with our strategy, executive appointments in key brand and management roles, a significant marketing investment to revitalise key brands, a stronger focus on key drivers, increased capital investment in an expanded store network and a major review of our back end and supply chain processes to leverage our group economies.”
Chief Operating Officer Mr Eddie MacDonald said while all of the Company's businesses had been impacted by the tough trading conditions, the footwear and men's businesses had been most affected.
“For our retail operations, comparable store sales decreased in the low-mid single digit range and higher levels of markdowns caused some erosion of margins,” he said.
“Williams which also posted negative comparable store sales growth result was most impacted by activities of the discount department stores.”
MacDonald said the Company was encouraged by the performance of its Mathers, JAG and Diana ferrari businesses.
COLORADO group is a national footwear and apparel retailer and wholesaler with a history spanning 140 years. The Company comprises 430 stores across its five divisions Colorado, Mathers, Williams, JAG and diana ferrari.
“These initiatives include improved alignment of our people, incentives and structure with our strategy, executive appointments in key brand and management roles, a significant marketing investment to revitalise key brands, a stronger focus on key drivers, increased capital investment in an expanded store network and a major review of our back end and supply chain processes to leverage our group economies.”
Chief Operating Officer Mr Eddie MacDonald said while all of the Company's businesses had been impacted by the tough trading conditions, the footwear and men's businesses had been most affected.
“For our retail operations, comparable store sales decreased in the low-mid single digit range and higher levels of markdowns caused some erosion of margins,” he said.
“Williams which also posted negative comparable store sales growth result was most impacted by activities of the discount department stores.”
MacDonald said the Company was encouraged by the performance of its Mathers, JAG and Diana ferrari businesses.
COLORADO group is a national footwear and apparel retailer and wholesaler with a history spanning 140 years. The Company comprises 430 stores across its five divisions Colorado, Mathers, Williams, JAG and diana ferrari.
COLORADO group ltd
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