In The Style and Burberry deliver festive sale upticks

In The Style recorded a 21.5% uplift in net sales to £11.2m in the eight weeks to December 31, up 225.9% on a two-year basis.

The retailer’s gross order value rose 41.14% during the period against strong comparatives.

The fashion etailer said that “industry-wide global supply chain constraints” impacted its range launch timetable, which led to “an increased level of discounting to clear some ranges ahead of subsequent launches”. As a result, In The Style now expects its adjusted EBITDA margin to be in the range of 1% to 2%.

The online retailer’s CFO and COO Paul Masters will also step down in March for health reasons. The operational aspects of his role will be covered by recently appointed CEO Sam Perkins, while his remit as CFO will be overseen by Richard Monaghan, who will join In The Style in March from Victorian Plumbing.

In The Style CEO Sam Perkins said the retailer’s festive sales boost “was achieved despite the well-documented uncertainties facing both consumers and retailers during the period and is testament to the appeal of the In The Style brand, continued positive momentum across several key customer metrics, and the success of our recent influencer collaborations.”

Burberry posted a 5% uplift in sales year-on-year in the 13 weeks to December 25, up 7% on a like-for-like basis.

On a two-year basis, the retailer’s overall like-for-like sales declined 3% due to a “planned exit of markdown across mainline and digital”. This focus on higher-margin growth drove a 26% jump in full-price like-for-like sales on a two-year basis, up 15% year-on-year. The retailer said that it “continued to strengthen our position with new, younger consumers, with new customers driving double-digit full-price sales growth across all product categories” during the period. 

Burberry said it expected full-year adjusted operating profit to rise 35% year-on-year.

Chair Gerry Murphy said: “Full-price sales continued to grow at a double-digit percentage compared with two years ago, accelerating from the previous quarter and reflecting a higher quality business. 

“Our focus categories outerwear and leather goods performed strongly as we continued to attract new, younger consumers to the brand. Despite the ongoing challenges of the external environment, we are confident of finishing the year strongly and providing an excellent platform on which to build when our new CEO Jonathan Akeroyd joins in April.”