Footwear retailer Hotter Shoes underlying profit jumped 16% in 2012 as it opened 21 new stores over the year.
The raft of openings for Hotter, which started life as a manufacturer, took its total to 52. Sales at the retailer soared 9% to £74.9m over the year and overseas revenue grew by 44% driven by a “strong performance” in the US.
The retailer is exploring further expansion opportunities in the Middle East and Russia and will start trading in Germany next year.
Online sales grew by more than 20% over the year, helped by investment in the website, an enhanced digital marketing programme and improved IT infrastructure. The mail-order business also performed “ahead of expectations”, according to the retailer.
Hotter has also invested in brand development over the year and launched new products to appeal to a wider customer demographic. It plans to further investment in new product range and branding in its next financial year.
Hotter chairman Peter Chappelow said: “We are pleased with the results for 2012 and this means we have now doubled our turnover over the last 4 years. We will continue to invest in our product, sales channels and international presence going forward. All those elements of our growth strategy are showing encouraging signs in 2013 and we see great potential for further expansion both in the UK and overseas.”
“Our international website is due to be launched in the first half of 2014, driving further sales in the USA, and supporting the roll-out of our sales channels in other markets.”