Record profits for fashion retailer
By Sarah Wood | 7th August 2023
Fashion retailer, AllSaints, has posted record annual sales and profits.
The retailer, which has a store at Gloucester Quays, saw sales rise by 36% to £457m for the year to January 28, as reported by Retail Gazette.
Profits for the same period were up 50% to £58.6m.
The company said sales were boosted by shoppers cutting back on other non-essentials to be able to afford its more expensive products.
AllSaints said its performance was also driven by growing its global portfolio of stores, 'ecommerce excellence', focusing on its products and careful inventory management.
Demand for the retailer's newer categories, including underwear, was very strong, with sales trebling year-on-year.
AllSaints recently started trading in mainland China for the first time.
The brand remains confident in its future profits, despite the current challenging retail environment.
Image credit: Google Images 2016
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