This year’s Primark first quarter results were almost as impressive as those from Ugg, as sales grew by 29 per cent in the year to August. This helped the famous shoe brand lift earnings by 28 per cent during the same period.
Ugg is planning on launching its latest footwear collection under its Geisha range.
The retailer’s long-running favourite boots have undergone a facelift with new patterns and fabrics, although the new hued model is rumoured to retain their iconic lace-up design.The brand is planning on launching its latest footwear collection under its Geisha range Sisters Lauren and Nicole Bass have made a name for themselves in the fashion industry over the last decade
Ugg shares will go ex-dividend this morning and its dividend will cease on October 21. It ended the day on Monday 1 per cent higher at 561.5p.
Once the first retailer to market with the $400 (£313) pair of leather boots, the retailer launched the collection with limited models in 2003.
With takings on the shelf at the beginning of this year rising by 29 per cent, shoppers are embracing the boots’ new millennium appeal.
Forecasts for next year include an order book between £250 million and £300 million and sales that will reach £178 million.
The 8.6 per cent increase saw its profit margin grow by 110 basis points to 26.4 per cent.
On a full-year basis, profits are forecast to reach £255 million to £270 million.
Online sales growth for the group was 10 per cent during the first half, compared to an 8 per cent rise for all of last year. Total sales for the group rose by 10 per cent to £787 million.It will also be launching a new collection under its Geisha line
Lauren Bass, in whose wardrobe comes to mind, has stepped in to help reboot the range, with 42 jobs affected, according to The Independent.
The news coincides with the company’s announcement last week that Chief Executive Rodger Sutherland will retire from the company at the end of his current contract, on October 1, after almost 10 years of run.
He joined the firm in January 2015.
The group is due to report its final trading statement for the year before the end of the month.