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  • Higher turnover, lower profit for Bestseller

    Higher turnover, lower profit for Bestseller

    Danish fashion group Bestseller (Jack & Jones, Vero Moda, Only) has increased its turnover by 7?% in its financial year 2018/19. However, due to major investments, the profit was lower than a year earlier.

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    "Substantial investments"

    Bestseller A/S achieved a turnover increase of 7?% to 3.5?billion euros. However, profit before tax decreased by 3?% to 372?million euros. The Danish fashion company explained this profit drop by saying that it "has made substantial investments", but does not give any further details.

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    "The current financial year shows that we still have work to do. We have a strong belief in the future and it is important that we remain innovative - both in relation to our products and stores and how we run our entire business", CEO Anders Holch Povlsen stated in a press release. "The importance of digitalisation and sustainability is becoming increasingly clear in all parts of society. Now, more than ever, we need to accelerate our journey towards a sustainable reality and a truly digital future. This is key to the continued development of our company."

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