Bestseller breaks records. The Danish fashion distribution company, one of the largest in the world by turnover, has ended the last financial year (closed last July) with its sales and results on the rise.
Specific, the company has ended the period with an increase in sales of 33%up to 35,248 million Danish crowns (4,738 million euros), while the result was 5,143 million Danish crowns (691.3 million euros), 42% more than in the previous year.
“The result exceeded all our expectations”, said Anders Holch Povlsen, head of the company. However, despite the good performance, the company has indicated that the global economic situation and geopolitical conflicts will impact its business in the coming months.
Bestseller will distribute a bonus of three hundred million Danish crowns among its employees
“We have to admit that there are headwinds, and that from now on it will be more difficult, because the global challenges are also reflected in our numbers,” added the manager. “The next exercise will be tough”, he concluded.
The company has explained that the fourth quarter of the year (between May and July), was already affected by these headwinds. Our good result is largely due to the first three quarters, while the last one indicates the changes that are taking place in the world economy as a whole.
In the financial year, the company has continued to invest in initiatives related to sustainability, and plans to maintain that focus in the coming months “despite tough and challenging market conditions.”
In addition, following the good results obtained, Bestseller has explained that it will distribute a bonus of three hundred million Danish crowns (40.3 million euros) among its workforce, which amounts to regarding 17,000 workers. At the end of the year, in addition, the company’s commercial network amounted to more than 3,000 stores.
Bestseller, which operates with the brands Jack&Jones, Junarose, Jacqueline De Yong, Mamalicious, Name It, Noisy May, Object Collectors Item, Only, Only & Sons, Pieces, Selected, Vero Moda, Vila Clothes and YAS, has a staff of 17,000 employees.
