View from City Road: Body Shop smooths away a few wrinkles
Friday 15 October 1993
Yesterday's results suggest that his treatment has ironed out a few of the worst wrinkles. Concentrating more on customers' needs - cosmetics appeal to a far wider audience than white grape tonic, for example - has almost arrested the like-for-like sales declines (though partly, it has to be admitted, because last autumn's trading was so awful). The simple expedient of tailoring stock production to customers' demand has left the balance sheet in much better shape.
Outside Britain, Body Shop does appear to be one of the few retailers to have found an exportable formula. But it is easy to expand by opening new shops, particularly when they are franchised and the capital costs are low.
The break-neck pace of expansion - about 140 new shops this year, on top of 173 opened last year - suggests that even the supposedly comparable sales increases quoted by the company will be distorted by the maturing of recently opened stores.
Investors, like television journalists, are always looking for reasons to knock Body Shop. The results may not give them the ammunition they need, but neither do they give a convincing reason to applaud.
Mountain goats miraculously survive avalanche in the Alps
Skyfall's Ben Whishaw confirmed for Freddie Mercury film
A cautionary tale for ambitious would-be authors
Trenton Oldfield deportation: Boat Race protester allowed to stay in UK over fears his Indian wife would face racism in Australia
Sir Ian McKellen hits back at Damian Lewis' 'fruity actor' claims
Teenage girl convicted of robbery after taking pre-crime selfie wielding knife
Housing double whammy: A whole generation ‘won’t be able to buy or rent a home’
'I'm experiencing austerity as well', says Princess Michael of Kent
- 1 Gurdwaras-turned-food banks: Sikh temples are catering for rise in Britain’s hungry
- 2 TK Maxx and discount stores: If it looks too good to be true, it probably is
- 3 Teenage girl convicted of robbery after taking pre-crime selfie wielding knife
- 4 Government delays EU immigration report because it is too positive
- 5 'I'm experiencing austerity as well', says Princess Michael of Kent
- < Previous
- Next >
iJobs Money & Business
£75000 - £85000 per annum + attractive benefits: Pro-Recruitment Group: Senior...
£70000 - £80000 per annum + Commission Package: Harrington Starr: Due to winni...
£60000 per annum: Harrington Starr: Support Analyst (Back Office, CRM, Sharepo...
£65000 - £80000 per annum + Excellent Bonus, Package : Harrington Starr: Busin...