Karen Millen £ 9.7 meters from the operating loss of 28 February 2015 the end of the year, lower than the previous year’s profit of £ 1.9 m.
Premium high street retailers to reduce losses to the real estate and stock heavy impairment charges. Gross profit was essentially flat at £ 102 m 104 m compared to the previous year, £. Sales for the period were flat £ 178 m.
The company said it has been trading well since March, with like-for-like in the past three months rose 3%.
Last week, just change like an increase of 18% year on year thanks to Black Friday, thereby releasing both in stores and online trading.
Karen Millen dress is the appointment of a new CEO to replace Mike Shearwood, who left the business in September last stage. The company is expected before Christmas on this announcement.
The company completed its parent company, the Icelandic bank Kaupthing, 9 month major refinancing.
Its debt has been significantly reduced and liquidity facilities protection, to support its investment plan, which is currently focused on improving its digital capabilities. The retailer did not disclose figures.
“We’ve put a lot of bricks until now, but not in e-commerce, so we are back, we should be,” discount Karen Millen dress Chairman Neil McCausland told Drapers.
“This is a year of change. We have a very clear strategy to reshape the business. We have completed the main refinancing operations to achieve our plan, we will soon announce a powerful new CEO to lead the team and take the business development of.”
He said that the refinancing of the company into a “significantly more favorable status”: “It’s hard not correct liquidity facilities management business.”
Following the digitization investment, Karen Millen dress will look at how to improve its operational efficiency from headquarters to stores and become more customer-centric.
This may be related to another role, such as chief customer officer; although no decision will be put in place under the new CEO.
McCausland said Karen Millen dress will take “more aggressive” approach to close loss-making stores and franchise next year, so it can re-deploy capital in need.
The retailer has 84 company-operated stores and franchises in the UK and Ireland, 100 in Europe, 35 in the United States and Canada and Australasia 21. It also has 160 international franchise stores.
Shearwood, who took over the reins after Karen Millen left the business in 2007, scrapped plans for the MBO.