Missguided has dropped into the red in its full-year update as it ploughed investment into its distribution centre, although its sales skyrocketed.
Despite falling into the red, the retailer’s overall turnover skyrocketed 75.6% to £205.8m, bolstered by its UK ecommerce sales, which jumped 40%, and online sales in the US, France and Germany more than doubling.
Missguided attributed its loss-making year to heavy investments in its purpose-built Manchester warehouse and website.
The retailer’s EBITDA before exceptional items rose 46% to £3.7m.
The fashion retailer’s wholesale channel posted stratospheric sales growth of 165% while its number of active customers spiked 47% to 280,000.
Missguided opened its debut stores in Westfield Stratford and Bluewater and launched its new menswear brand Mennace during the financial period, the latter of which incurred an EBITDA loss of £100,000 and net sales of £200,000.