243
Fashion Jobs
L'OREAL GROUP
Head of Advocacy & Influence - l’Oréal Dermatological Beauty - Copenhagen
Permanent · COPENHAGEN
ESTÉE LAUDER COMPANIES
District Manager (Funen/Jutland)
Permanent · AARHUS
ESTÉE LAUDER COMPANIES
Handelselev Med Speciale i Digital Handel - E-Commerce
Permanent · COPENHAGEN
ZIZZI
Online Buyer Til Fashion
Permanent · BILLUND
SAMSOE
Logistik Koordinator
Permanent · GLOSTRUP
ONLY
Business Controller
Permanent · BRANDE
ONLY
International Sales Manager
Permanent · BRANDE
JACK & JONES
Konstruktører, Jack & Jones og Jjxx
Permanent · BRANDE
BEST SELLER
Environmental Programme Coordinator
Permanent · KØBENHAVN K
BEST SELLER
Product Owner - Data-Driven Solutions & ai
Permanent · AARHUS
SELECTED FEMME/HOMME
Sales Representative
Permanent · BRANDE
L'OREAL GROUP
Key Account Relationship Specialist
Permanent · COPENHAGEN
SAMSOE
Business Controller (Sql And Data Analytics Specialist)
Permanent · COPENHAGEN
ACE & TATE
Optometrist Copenhagen i NY Østergade
Permanent · COPENHAGEN
VERO MODA
Business Controller
Permanent · AARHUS
VERO MODA
Buyer | Curve
Permanent · AARHUS
ONLY
Demand Planner
Permanent · BRANDE
L'OREAL GROUP
Supply Chain Graduate - l’Oréal Luxe Product Division - Copenhagen
Permanent · COPENHAGEN
KERING EYEWEAR
Kering Eyewear - Lindberg Junior Trade Marketing Manager
Permanent · AARHUS
ESPRIT
Area Manager Multilabel Nordic Women
Permanent · COPENHAGEN
ZIZZI
IT Operations Manager
Permanent · BILLUND
TJX EUROPE
Buying Coordinator
Permanent · COPENHAGEN
Published
Apr 16, 2018
Download
Download the article
Print
Text size

IT nightmare turns into loss for Charles Tyrwhitt but sales rise strongly

Published
Apr 16, 2018

Charles Tyrwhitt may have seen its sales rising strongly last year but it also swung to a loss after an IT project had to be axed.


Charles Tyrwhitt



The premium shirt specialist lost as much as £5.9 million in the 12 months to July 2017, after making an operating profit of £4.6 million in the previous period.

There's no denying though that its sales growth was much more encouraging. Turnover rose from £176.2 million to £197.7 million and the rise was strong in all regions. In the UK its turnover was up 41%, almost as good as the 46% rise 12 months earlier. And in the rest of the world the growth was even better, accelerating to 59% from 54% in the prior period.

The company had 22 shops in the latest year compared to 20 the year before.

Despite the IT problems, Wheeler said he will continue investing in the business, particularly in order to grow its footprint abroad.

So how big a dent did the IT project make in the company’s accounts? It cost the firm £7.3 million, but the loss it caused this time wasn't exactly a shock as Charles Tyrwhitt’s parent company had flagged up the IT issue when it released its own results back in February.

The shirt company was started by Nick Wheeler as a mail-order brand in 1986 and is now part of Bectin, which also controls The White Company, founded by Chrissie Rucker who also happens to be married to Wheeler.

Copyright © 2024 FashionNetwork.com All rights reserved.