297
Fashion Jobs
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
L'OREAL GROUP
Retail And Education Manager
Permanent · HONG KONG
TORY BURCH
Senior Manager, Retail Training, Asia
Permanent · HONG KONG
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.