Shipping delays to defer Made profits

Made will see between £12m and £15m of profits deferred until 2022 because of shipping delays.

The retailer says delays, particularly factory closures in Vietnam, will see completed sales drop by £35m to £45m compared to its previous forecast of £410m.

This in turn would see profits not recognised until next year.

It says despite this sales will still be more than 40% higher than 2020.

‘The group has built stock positions to deliver significantly better lead times to consumers for 2022 and beyond as orders placed with suppliers are now in or close to our warehouses. The progress is based on foundational work already undertaken over the last 12-18 months, focusing on warehousing and logistics. Additionally, supply of goods from Vietnam has now returned to close to normal levels, with all key suppliers now operational. Made has continued to make great progress on its homeware proposition and now has more than 100 designer makers, artisans and small brands onboarded to the curated marketplace.’



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