‘Outstanding’ performance for fashion brand
By Sarah Wood | 8th June 2023
Fashion retailer, Seasalt, has seen a big rise in full-year sales and profits.
The brand, which has a store in Cirencester, posted £6.5m in pre-tax profits - a rise of 39% - for the year to January 29, as reported by Retail Gazette.
Sales were up by 38% to £96.4m, boosted by online sales via third-party marketplaces, as well as its own website.
Store sales rose 8.2% year on year, with a 24% increase over the Christmas period.
It said its success was due to managing its supply chain fairly, good customer service and creating distinctive retail stores.
More than a quarter (27%) of online orders were fulfilled from stores over the year, helping to boost full-price sales and allowing the business to "trade stock efficiently".
Seasalt said it sees further opportunity for growth through developing third-party relationships and expanding its domestic and international markets.
The retailer closed down four stores over the year, as it continued to monitor store performance.
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