Rise in sales for menswear brand
By Sarah Wood | 15th April 2024
Shirtmaker, Charles Tyrwhitt, is forecasting a 20% rise in sales over the coming year.
The menswear retailer is opening a store on Cheltenham's Promenade in August.
Charle Tyrwhitt is seeing a surge in demand for casual workwear, as reported by Retail Gazette.
Sales rose 45% to £269m with underlying profits up to £44m for the year to July 2023 - up from £16.6m the previous year.
Before the pandemic, turnover was around £220m, which plunged to £100m during the lockdowns.
Now it says it has moved into 'the expansion of the modern man's working wardrobe' and away from the blazers and ties of the pre-pandemic years.
While most of the increased sales have been online, Charles Tyrwhitt has also opened seven new stores over the last 18 months, with a flagship 4,200 sq ft store on London's Regent Street set to open this week.
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