HUNTER Boot, the company behind the upmarket Wellington boot brand, has reported a fall in underlying earnings amid challenges in the US department store channel and investment in its operational infrastructure, writes Scott Wright.
The Edinburgh-based firm recorded adjusted earnings before interest, tax, depreciation and amortisation of £9.2 million in 2016, down from £14.1m the year before. That came as turnover dipped to £102.9m from £113.8m.
Hunter Boot said the period saw it appoint a new chief executive, with Vincent Wauters replacing James Seuss, open a new store in Tokyo and invest in its supply chain and logistics infrastructure. But, while insisting its core business remains string, noted its wholesale business had been “impacted by the broader challenges facing the US department store channel”, which also affected its peers.
Mr Vauters said the firm has taken “important steps to put Hunter in the strongest position for future growth by continuing to invest in the organisation and operations”, adding it is seeing “positive revenue growth and a strong order book in 2017”.
He said: “Apparel and bag sales have more than doubled compared to 2016. Our retail stores are also performing well, with particularly strong results in our Regent Street Flagship in London.”
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