AllSaints celebrates a third year of record-breaking financial performance with significant profit growth.
- Operating profit increased by 40% to reach £39.9 million, showcasing robust financial health.
- Overall sales, including John Varvatos, saw a moderate rise of 0.6%, reaching £459.5 million.
- AllSaints expanded its market presence by investing in wholesale, franchise, and licensing operations.
- CEO Peter Wood expresses confidence in the brand’s future, highlighting new product launches and international expansion.
Fashion retailer AllSaints has announced its third consecutive year of record-breaking financial results. Operating profit surged by 40%, reaching an impressive £39.9 million, while EBITDA rose by 18%. The group, which includes luxury menswear brand John Varvatos, recorded a 0.6% increase in sales, totalling £459.5 million. The core brand AllSaints saw a similar 0.6% rise, amassing £393.5 million in sales.
The company attributes its financial success to strategic efforts in reducing promotional and markdown activities, coupled with a shift in sales channels. This approach has facilitated growth in wholesale, franchise, and licensing outlets, enabling the brand to connect with a broader customer base during its 30th anniversary.
CEO Peter Wood stated, “We are delighted to be reporting another record performance for the third year in a row.” He highlighted that a strong emphasis on expanding global partnerships has played a pivotal role in reaching more customers than ever.
The year also saw AllSaints launching various new products, including a fragrance collection, the childrenswear line smAllSaints, men’s tailoring, and an eyewear range. These developments reflect the brand’s commitment to diversifying its product line and enhancing customer experience.
Further investments have been made in both new and existing stores, as well as technological infrastructure, to improve the shopping experience. With operations spanning 27 countries, AllSaints has recently inaugurated a new European distribution centre in the Netherlands, a strategic move to bolster its growth plans across Europe.
CEO Wood expressed optimism about the company’s trajectory, asserting, “We feel as confident as ever in our future prospects.”
AllSaints’ strategic initiatives and product expansions reinforce its strong market position with promising future prospects.
