53
Fashion Jobs
ZALANDO
Head of Engineering - Emerging Propositions
Permanent · HELSINKI
VERO MODA
Myyjä (Vuorotteluvapaasijaisuus) Vero Moda Seinäjoki
Permanent · SEINÄJOKI
ESTÉE LAUDER COMPANIES
Beauty Advisor - Sokos Helsinki (Fulltime Temporary)
Fixed-term · HELSINKI
ESTÉE LAUDER COMPANIES
Full Time Beauty Advisor - Vantaa Airport, Helsinki
Permanent · HELSINKI
ESTÉE LAUDER COMPANIES
Estee Lauder Companies - Multi Counter Manager - Stockmann, Turku
Permanent · TURKU
MUJI
Avoin Hakemus - Myymälä
Permanent · HELSINKI
MUJI
Avoin Hakemus - Ravintola
Permanent · HELSINKI
JACK & JONES
Myyjä Jack & Jones Helsinki Outlet
Permanent · HELSINKI
MANGO
Sales Assistant
Fixed-term · VANTAA
RITUALS
Sales Advisor (Summerextra) - Tampere - Ratina Shopping Center
Permanent · TAMPERE
RITUALS
Sales Advisor (Summerextra) - Vantaa - Jumbo
Permanent · VANTAA
JACK & JONES
Kesätöihin Myyjäksi Vero Moda / Jack & Jones Porvoo
Permanent · PORVOO
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Mikkeliin
Permanent · MIKKELI
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Ouluun
Permanent · OULU
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Vaasaan
Permanent · VAASA
MONKI
Sales Advisor, 10h (Summer Help Temporary)
Fixed-term · VANTAA
VERO MODA
Myyjä Vero Moda Seinäjoki Idepark
Permanent · SEINÄJOKI
ESTÉE LAUDER COMPANIES
MAC Make-up Artist (20h/Week) - Sokos Tampere
Permanent · TAMPERE
ESTÉE LAUDER COMPANIES
Beauty Advisor (30h/Week) - Stockmann Helsinki
Permanent · HELSINKI
MASSIMO DUTTI
Sales Assistant Massimo Dutti, Helsinki
Permanent · HELSINKI
H&M
Sales Advisor, 15h - Kesätyö
Permanent · SEINÄJOKI
H&M
Sales Advisor, 10h - Kesätyö
Permanent · KOTKA
Published
Mar 4, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

Coats Group weathers turbulent year with improving H2, outlook positive

Published
Mar 4, 2021

After a “turbulent” trading year, it certainly wasn’t all bad news for Coats Group despite delivering mostly negative numbers in its 12-month trading statement to 31 December on Thursday.


Coats Group


Indeed, the industrial threads giant said it has been encouraged by its improved trading performance at the end of 2020, as well as the first two months of the new fiscal year. 

“We have delivered a strong operational performance despite a very difficult global backdrop”, an upbeat chief executive Rajiv Sharma said. Importantly, he added: “The board expects to see continued recovery through 2012. We have a strong balance sheet, which provides strategic optionality and positions us well to navigate the ongoing challenging environment”.

But, as with most businesses last year, the pandemic took a heavy toll on balance sheets, and Coats was no exception.

Despite improving sales momentum through H1 last year, with sales down just 5%, they fell 26% in H1 and were down 15% for the four months to October 2020.  This meant overall sales for the full year fell 16% to $1.163 billion.

Sales in the Apparel & Footwear (A&F) category fell 23% to $823 million, slightly offset by a rise of 5% to $341 million in the Performance Materials (PM) category.

By region, Asia sales fell 21% to $629 million, Americas fell 3% to $315 million and EMEA dipped 17% to $219 million.

Adjusted operating profit for the year fell 44% to $111 million and reported operating profit dipped 46% to $103 million, both above expectations, it noted.

But back to the positives. Coats also said it saw continued market share gains in A&F and customer wins in PM as “priorities pivoted even more towards reliability, speed and flexibility” during Covid. 

Other good points included maintaining its pace of innovation, launching 22 new products last year across both A&F and PM, delivering incremental sales of $13 million, while furthering its sustainability agenda. 

Looking forward, Coats added: “We remain cautious around the recovery profile of our various global end markets and will be vigilant regarding inflationary pressures within the supply chain.  Notwithstanding this uncertainty we are encouraged by our improved trading performance towards the end of last year as well as in the first two months of this year, and the board expects to see continued recovery through 2021.”

In the recovery out of Covid, Coats also said it anticipates capital expenditure ranging $35 million-$40 million for 2021, including around $7 million to support strategic growth initiatives, primarily in its Asian operations.
 

Copyright © 2024 FashionNetwork.com All rights reserved.