Oasis and Coast post rise in sales and EBITDA

For the fiscal year to February 28, 2017, women’s fashion retailer Oasis has reported 2.4 percent increase in sales to 160.1 million pounds (208 million dollars), while its EBITDA jumped 36.8 percent to 11.9 million pounds (15.5 million dollars), reports Retail Gazette. Ecommerce sales, now 21 percent of the total company sales, increased 17.5 percent during the reviewed year.

Coast, other label under the group saw a 5.6 percent sales growth to 85.2 million pounds (111 million dollars) and its EBITDA was 3.4 million pounds (4.4 million dollars)against a break even last year. Brand’s online sales were up 12.1 percent and represented 30 percent of total sales.

Third brand, Warehouse however recorded a 12.9 percent decline in its sales to 110 million pounds (143 million dollars), while it suffered an EBITDA loss of 5.8 million pounds (7.5 million dollars).

Last year, administrators for failed Icelandic bank Kaupthing, which had acquired Coast, Oasis and Warehouse from Mosaic Fashions in 2009 began looking for a buyer to sell these labels. However, the sale option was rolled back recently and now all three are part of the Aurora Fashion Group, the company having majority-stake by the administrators of the defunct Icelandic bank.