Fashion firm enjoys 5% hike in sales

AURORA FASHIONS – the company behind leading retailers Karen Millen, Oasis, Coast and Warehouse – has reported a 5% like-for-like sales increase in the first half of its financial year, to the end of July.

Irish business has contributed strongly to that growth.

In its half-year performance review, issued yesterday, Aurora said it is making “strong progress despite the ongoing challenging economic conditions” and, after the first half, is “on track to deliver significant growth on the last financial year”.

For the period, the group said its global retail sales amounted to £362 million (€420m) while earnings before interest, tax, depreciation and amortisation (EBITDA) were up by 36% – on a year-on-year basis – at £17.8m, with online sales growing by 34% on the same period last year.

Some 37 new stores were opened during the first half of this year. While the Irish operation is mostly refurbishing existing stores, rather than opening new ones, two new stores did open in Ireland in the last 12 months. Aurora operates 83 stores in Ireland across the four brands.

Performance across the Irish operations, during the first half, was “strong” and management remains “very happy and very committed” to its business here, in which it is set to continue investing.