EBTM delivers maiden profit


EBTM delivers maiden profit

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.

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