Boux Avenue was the star performer of entrepreneur Theo Paphitis’ retail group over Christmas but all his businesses recorded like-for-like increases.
The lingerie retailer, which has recorded its fourth Christmas of trading since launching, posted a 31.7% rise in like-for-like UK sales for the six weeks ending December 24.
Hardware business Robert Dyas and stationer Ryman increased like-for-like sales by 2.5% and 2.4% respectively during the same period.
The sales growth from Robert Dyas came after it launched its first ever Christmas brand campaign on television, while Boux Avenue was also supported by a Christmas TV push.
Retail entrepreneur and former Dragons’ Den star Paphitis said Boux Avenue’s strong sales growth “came in well beyond our expectations”.
He said: “Several records, both online and in-store were broken leading into Christmas as well as on Black Friday. This performance has vindicated our investment and belief in the brand which has become the first choice for many lingerie consumers across the UK.”
Paphitis’ retail group reported its full-year results at the same time as its Christmas trading update. They reveal Boux Avenue, launched in April 2011, has narrowed its operating loss after sales surged.
In the year ending March 29, 2014, Boux Avenue reduced its operating loss to £5.8m from £7.1m.
Turnover increased 48% from £18.2m to £27m during the year, while like-for-like sales increased by 27.2%.
Ryman, which has 230 stores, increased operating profit 5.6% to £7.5m for the year ending March 29.
Turnover during the year increased 4.2% to £130.6m, and like-for-like sales increased by 3.7%.
Robert Dyas’ operating profit increased 7.2% to £5.2m during the year as turnover advanced 8.6% to £134.2m and like-for-likes jumped by 8.3%.
Paphitis is making a £5m investment in increasing Robert Dyas’ warehousing and distribution capacity. The retailer will open a 160,000 sq ft facility in Hemel Hempstead this year that it believes will allow it to double sales to £250m.
After previously operating under the ‘Ryman Group’ name, the companies will now all operate under the umbrella Theo Paphitis Retail Group.