Footasylum has posted sales growth across all business channels as it marks another year of “record growth”.
The sportswear retailer posted a 7% rise in revenue to £320m in the financial year ending January 27, 2023.
Online revenue accounted for 42% of total revenue and EBITDA rose by 38% to £22m, representing an “all-time high”.
Sales increased across its stores, app, website and wholesale channels, which the retailer said was helped by the “opening and upsizing” of several digitally-led stores, including a 20,000 sq ft Oxford Street flagship.
The group said the “record-breaking performance” demonstrates the strength of the business during challenging market conditions.
Footasylum executive chair and chief executive Barry Bown said: “FY24 was an extremely busy and productive year for Footasylum.
“With the support of Aurelius, we have expanded Footasylum’s unique offering across the UK’s busiest high streets and shopping centres.
“We have also been successful in internationalising the brand by reaching new audiences through our flagship Oxford Street store and by growing our non-UK online sales.
“In addition, FY24 also saw us perfect our store design and fitout process, which will enable us to continue our seamless rollout of new and upsized stores as part of our wider omnichannel strategy. In the longer term, we expect this to include the expansion of our store network outside the UK.
“Despite the fact that UK consumers are feeling the squeeze from continued inflation and higher interest costs, I am confident that Footasylum will keep on growing over the next 12 months.
“By continuing to identify the latest trends, and incubating new and leading fashion brands, Footasylum has a strategy that is highly effective and entirely consistent with the brand’s DNA.”
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