a further 30% in 2023<\/a>.<\/p>\nThe slump in growth sent Bulk into an operating loss of \u00a387k, having reported a \u00a36.6m operating profit the year before, and a pre-tax loss of \u00a31m.<\/p>\n
Despite the impact on the company\u2019s finances, a Bulk spokesman said the \u201conce in a decade\u201d internal transformation projects had left the company stronger than ever.<\/p>\n
In building an entirely new website architecture for the company\u2019s 16 localised DTC websites across the UK and Europe, the business encountered \u201cgreater complexity and disruption than anticipated\u201d, impacting trading performance \u201cthrough the majority of 2024\u201d.<\/p>\n
\u201cWe took steps through 2024\/2025 to remedy the issues,\u201d the spokesman said.<\/p>\n
The company has also moved its UK operations to a new, highly automated third-party logistics facility in the Midlands\u2019 \u2018golden triangle\u2019 to optimise UK delivery. Nearly a third (30%) more efficient than Bulk\u2019s previous site, it has 100,000 pallet slots and has cut a full day from the company\u2019s lead times.<\/p>\n
Bulk also implemented a full new ERP to connect warehouses directly to its website, allowing the company to update stock in real time and upgrading its forecasting accuracy.<\/p>\n
While both the move to a new logistics site and the implementation of a new ERP took less time than anticipated, the combined impact of the changes still impacted Bulk\u2019s ability to trade efficiently, according to its company accounts.<\/p>\n
A full redesign of all 1,500 SKUs across the Bulk portfolio marked the fourth major project of the year.<\/p>\n
\u201cThe investments we made in 2024 were about building for the long term,\u201d said Bulk CEO Adam Rossiter. \u201cWe\u2019ve cut delivery times, removed barriers to scaling, and built an operation that can support record growth for years to come, across the globe.\u201d<\/p>\n
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<\/p>\n