Noni B posts 70 per cent EBITDA rise

Noni B

Womenswear retail giant Noni B is expecting a big earnings rise after strong sales during fiscal year 2018.

In a trading update released today to the market – yet to be audited – the fashion firm said like-for-like sales in the period grew by 4.5 per cent; total sales grew to approximately $364 million; with online as a proportion of sales representing 5.8 per cent of total sales.

The group’s store network increased from 614 stores at the start of the period to 641 stores.

As a result, Noni B said earnings before interest, tax, depreciation and amortisation (EBITDA) for FY2018 will be around $37 million.

This represents an increase of over 70 per cent over the prior year’s underlying EBITDA of $21.7 million.

The company noted it was “pleased with this result and, in particular, the group’s sales performance through the key Christmas and Mother’s Day trading periods.”

Noni B said the 2019 financial year “will be a year of transformation” after the acquisition of the Millers, Katies, Crossroads, Autograph and Rivers brands from Specialty Fashion Group (SFG)

Since announcing the transaction, Noni B said its management teams had been working with SFG on an “implementation and integration plan” and was “pleased with the progress made to date in this regard, which will allow it to deliver on the expected benefits from the enlarged group, as previously outlined to the market.”

Scott Evans, Noni B chief executive, is now tasked with overseeing a broad based turnaround of the specialty stable, with an eye on breaking even in FY19. The brands posted a combined $25.7 million EBIT loss in 2017.

Noni B will release its FY2018 financial results in late August.


Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.


Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

As FY18 draws to a close, how would you describe your company's full-year results??


.@Wesfarmers to purchase @catch_au for $230 million, with @Kmart_Australia and @Targetaus to benefit from the marke…

1 week ago

Australian brand house #Gazal acquired by @PVHcorp in order to have greater control over its brands, such as…

2 weeks ago

Two thirds of Aussies are looking for discounts online says @PayPalAU, while retailers seek to slow price markdowns…

3 weeks ago

FREE NEWS BRIEFS Get breaking news delivered