×
1 334
Fashion Jobs
ESTÉE LAUDER COMPANIES
Sales Planning Coordinator
Permanent · Sydney
ESTÉE LAUDER
Consumer Marketing And CRM Manager - Estee Lauder
Permanent · Sydney
ESTÉE LAUDER COMPANIES
Area Sales Manager - Victoria
Permanent · Melbourne
DAVID JONES
Loss Prevention Officer - Full Time - Macquarie Centre David Jones
Permanent · North Sydney
ESTÉE LAUDER COMPANIES
Human Resources Coordinator
Permanent · Sydney
DAVID JONES
David Jones - Logistics Support Manager - Hay st Mall
Permanent · Bayswater
DAVID JONES
SEO Lead
Permanent · Melbourne
DAVID JONES
CRM Loyalty Specialist - Country Road Group
Permanent · Melbourne
L'OREAL GROUP
Demand Planner
Permanent · Melbourne
L'OREAL GROUP
Business Development Executive
Permanent · Adelaide
L'OREAL GROUP
Business Development Executive
Permanent · Brisbane
L'OREAL GROUP
Business Development Executive
Permanent · Perth
L'OREAL GROUP
Business Development Executive
Permanent · Melbourne
DAVID JONES
Marketing Manager - Amex Alliance
Permanent · Melbourne
MAC
Digital Media Marketing Manager
Permanent · Sydney
L'OREAL GROUP
National Account Manager - Pharmacy
Permanent · Melbourne
L'OREAL GROUP
Key Account Supply Chain Manager
Permanent · Sydney
DANGERFIELD
Visual Merchandising Manager
Permanent · Abbotsford
MAC
Mac- Business Manager – Myer And David Jones Brookvale – Full Time
Permanent · Sydney
DAVID JONES
Loss Prevention Officer Opportunity at Our David Jones Burwood Store
Permanent · Sydney
L'OREAL GROUP
National Business Manager (Grocery)
Permanent · Melbourne
H&M
Area Visual Merchandiser Manager
Permanent · Sydney
Published
Mar 11, 2021
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Nutmeg owner Morrisons' profits halve despite sales surge

Published
Mar 11, 2021

UK supermarket chain Morrisons reported its full-year results on Thursday and said profits fell by half as Covid-linked costs dented the bottom line.


Photo: Sandra Halliday



The company, which has been expanding its Nutmeg fashion line in the past year, said the 52 weeks to January 31 saw group like-for-like (LFL) sales excluding fuel and VAT rising 8.6%, with Q4 LFLs up 9%. Total revenue rose 0.4% to £17.6 billion. 

But profit before tax and exceptionals was down 50.7% to £201 million, including £290m direct Covid-19 costs. 

Yet there’s no denying that the firm has come out ahead of so many other retailers this year, both because of its reliance on groceries that meant its stores stayed open, and due to its shift online at the same time.

The company started selling Nutmeg online during the year and said that overall online sales tripled during the period.

CEO David Potts actually called “the halving of profits a badge of honour” as the company helped keep the UK fed during lockdowns.

He didn’t break out individual sales figures for the Nutmeg line, but it’s clear that this is increasingly important to the business as it expands access to it.

As well as taking it online, it opened a Nutmeg-specific store at its Bolsover site and introduced its new Nutmeg Menswear range and fixtures into over 50 stores.

Copyright © 2021 FashionNetwork.com All rights reserved.