Officeworks Drives Strong Online Growth in HY21

Power Retail By Power Retail | 19 Feb 2021

Officeworks is reporting strong growth across every channel, further accelerated by the online boom following the pandemic. 

The retailer reported a 23.7 percent increase in total revenue to $1.52 billion in FY21. Furthermore, the retailer indicated a 22 percent lift in earnings to $100 million, with a return on capital of 23.4 percent.

Across every channel, Officeworks experienced an increase, reporting sales growth of 23.6 percent, resulting in strong in-store and online transactions.

“The constantly changing landscape of COVID-19 meant we had to be agile to meet changing customer needs, and ensuring the safety for our team members and customers remains our top priority,” said Sarah Hunter, Managing Director of Officeworks.

“The performance in the first half is pleasing, we have delivered strong financial results whilst continuing to invest for long-term growth. This is a testament to our team and their agility and capability.”

via Officeworks

Officeworks is increasing its online offering following strong growth in HY21

Online penetration increased to 37.1 percent for FY21, driven by particularly strong online growth periods in response to the pandemic.

The retailer continues to expand its online offering, as well as invest in supply chain capacity and further enhance its data and analytics opportunities.

Officeworks also contributed more than $3 million to local and national community groups. Additionally, the retailer made progress in its efforts to reduce its emissions and further recycling 91 percent of operational waste across the business.

“While the outlook is uncertain, Officeworks remains well-positioned for the future with a focus on meeting and adapting to the evolving needs and wants of customers,” Hunter explained.

“We remain focused on making bigger things happen for our team, customers and the communities in which we live and work.”

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