River Island has reported record sales and profits and continues to shave supply times.
The privately controlled store group reported a 16 per cent increase in sales to £377 million and a 44 per cent rise in profits to £55.4 million for the year to December 28, 2002.
Managing director Richard Bradbury said profits and sales had been driven by changes over the past three years, including a ‘significantly expanded design function’ - increased to 25 people - a continually improving supply chain, new systems and a frequently refreshed store look.
He said lead times from design to store had been cut further in the past two years ago.
‘Lead times are about 15 per cent quicker than they were a couple of years ago,’ he said. Some tops can be sourced in 10 days and jeans in six weeks - a similar standard to retailers such as New Look. Improvements in the business were thanks in part to a ‘very stable team’.
Bradbury said more recent trading had been ‘good’.
River Island opens a 14,000 sq ft (1,300 sq m) Oxford Street store on November 20, including exclusive collections.
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