Wolford posts drop in full year revenue
Wolford has reported that its revenue fell by 3.4% to €149.07 million in the 2017/18 financial year.
After adjusting for currency items, Wolford said the decline was 1.4% in the twelve month period to April 2018.
Meanwhile, the company made a full year loss after tax of €11.54 million compared to a loss of €17.88 million in the previous year.
During the year Wolford streamlined its processes and reduced excess capacity. This included integrating its production into its supply chain management, streamlining its logistics processes, and optimising deployment planning at its boutiques. As a result, the average number of employees fell by 111 to 1,433 in the period.
Wolford will be investing in digitising its business in the current financial year. This will include expanding its online business and digital marketing with the aim of attracting younger target groups. It will also be expanding its business in Asia.
