EBTM ended what chairman David Howell dubbed a
“transformational” year with its first annual profit
since launching in 2005. The music-inspired fashion merchant
posted income of £903,000 in the year to 30th April 2008, a
turnaround from last year’s loss of £604,000. Combined
online and wholesale revenue soared 401 per cent, to £6.78
million, thanks largely to the acquisitions of the Attitcus and
Lowlife brands in May and July 2007. EBTM’s own-brand offering is
also performing well, accounting for 30 per cent of total online
sales. Overall online sales rose 37 per cent.
The growth in web sales came despite a few snags in EBTM’s
implementation of a new web platform last year. During the
migration process, because the new system needed “extensive
fine-tuning”, conversion rates fell by an undisclosed
percentage. EBTM says that conversion levels have now returned to
normal and that “a programme has been put in place”
to continue their improvement.
Share