Oasis books profit in three years, sales up 5.4 percent

The UK-based fashion brand Oasis has managed to report profits after a gap of three years on the back of revamped stores, full-price products and better offer under its dresses and shirts collection. While sales witnessed a rise of 5.4 percent to 171.9 million pounds (258.5 million dollars), 0.3 million pounds (4.5 million dollars) pre-tax loss reported last time turned into a 5.6 million pounds (8.4 million dollars) profit.

The company that runs 406 stores across the country has now decided to focus its energies on another brand Warehouse under its portfolio, which reported a sales decline from 137.3 million pounds (206.4 million dollars) to 130.3 million pounds (195.9 million dollars) over the same period with a pre-tax loss of 3.8million pounds (5.7 million dollars).

Owing to the turnaround at the Oasis brand, the company run by Liz Evans booked a profit after tax of 1.1 million pounds (1.6 million dollars). Ecommerce sales at Oasis increased 32 percent. Both businesses have now demerged from the parent company Aurora Fashions, and the new management at the helm of affairs is investing in giving a fresh lease of life to both these brands.

According to the accounts, 3.4 million pounds (5.1 million dollars) were infused in to flagship stores up-gradation which resulted in an 18 percent increase in sales at those outlets. The company also opened doors to a new flagship store on London’s Tottenham Court Road.

The company has also roped in designer Stella McCartney’s husband Alasdhair Willis as the new Brand Director of Warehouse, which is expected to provide a renewed boost and positioning to the brand.