AllSaints has released its financial results showing notable achievements in the first half of 2024.
- The brand’s gross profit margin increased to 63%, up from 62.2% last year.
- Total group revenue slightly rose by 0.6% to £459.5 million.
- Despite challenging market conditions, operating profit surged by 40% to £39.9 million.
- Expansion milestones included openings in Los Angeles, China, and a John Varvatos store in Houston.
Global fashion brand AllSaints has announced significant financial outcomes for the year ending 3 February 2024. The company’s gross profit margin saw an increase to 63%, compared to the previous year’s 62.2%, attributed to positive customer reception of seasonal products and efficient inventory management.
i>AllSaints achieved a 0.6% rise in total revenue, reaching £459.5 million. Although retail revenue, including stores and e-commerce, declined by 2.9% to £316.5 million, non-retail revenue such as wholesale, franchise, and licensing soared by 18.4% to £77 million. The inclusion of the New York-based menswear brand John Varvatos contributed, with its revenue remaining stable at £66 million.
In addition, the group’s EBITDA increased by 18%, reflecting a continued focus on product, marketing, and distribution. Operating profit also experienced substantial growth, increasing by 40% to £39.9 million, largely due to increased exceptional income.
Peter Wood, CEO of AllSaints, expressed satisfaction with the record performance, marking the third consecutive positive year. He highlighted the success in expanding wholesale, franchise, and licensing partnerships, resulting in a broader customer reach and improved retail revenue quality due to reduced promotional activity.
The year 2024 also marks AllSaints’ 30th anniversary, celebrated by opening new stores, including a concept store in Los Angeles, the brand’s first in mainland China, and a John Varvatos store in Houston.
AllSaints has demonstrated resilience and strategic growth, achieving a record-breaking financial year despite market challenges.
