Oroton sales slip in first weeks of FY17

by:GF bags     2019-09-03
Luxury accessories retailer Oroton suffered a decline in sales in the first few weeks of fiscal 2017, but said it focused on
Only retail stores are in operation.
The retailer, which owns 63 orrowton stores, including eight overseas stores, said that in the first 17 weeks of the current fiscal year, sales of key comparable stores fell by eight percentage points, the reason is that companies such as Michael Coles and Micco continue to compete fiercely.
Chief executive Mark Newman told shareholders at the group\'s annual general meeting on Thursday, in part because of strong store sales in the same period a year ago.
Newman said the strategy of focusing on position
Retail stores alone show results like-for-
Sales growth.
He said that in the leading few months, the group has already positioned itself
Until Christmas, the category without unprofitable has been abandoned
Clothing, shoes and underwear
Focus on the best-selling handbags and wallets.
\"Our design team is paying special attention to our core women\'s handbag range, introducing more colors and easier-to-get price points for young audiences in order to expand our customer base,\" he said.
\"We have expanded the range of limited edition packages that are at the top of our price range and have become a collection of our core customers.
The group has also introduced a range of personalized and customized options for handbags and wallets to allow customers to make their own, he said.
He added that there is also a new collection of jewelry, watches and gifts designed specifically for Christmas, as well as a range of perfumes.
The group\'s clothing and accessories label Gap, which owns seven stores, has dropped by 8 percentage points in similar products. for-like sales.
Newman said that Gap sales were mainly affected by poor performance in October.
However, trade improved during the period November.
Together with David Jones, the company has opened an online store for GAP to reach customers outside new states and Victoria.
It plans to launch a \"fully local\" Gap online store at the end of the fiscal year.
The group reported in September that its annual net profit rose 31 cents to $3.
The financial year 4 million was 2016 per cent.
Oroton shares were flat at $2. AEDT 1105 time 35.
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