Shirtmaker TM Lewin has embarked on a click-and-collect trial, as it reports that operating profit grew 7% to £9m in the year to February 28.
TM Lewin is trialling click-and-collect in its Canary Wharf store in London and chief executive Geoff Quinn said it plans to roll the service out to further stores.
Sales were up 7% to £83m and EBITDA grew 10% to £14m in the year to February 28. In its home shopping channels it reported a 17% increase in sales and a 29% increase in overseas sales.
TM Lewin is sticking to its strategy of offering four shirts for £100 and Quinn remained confident the business would not be hit too hard by the public sector cuts.
“Our position is that we offer value and we are hoping some of the cuts actually help us. People will be looking for value,” he said.
The 79-store retailer will open nine further shops this year in the UK and will increase its store count in Singapore from five to eight. It will also debut in Malaysia next year with five shops.
TM Lewin is also competing with rivals Moss Bros and Charles Tyrwhitt by offering a made-to-measure service. The service, which was launched last month in the Jermyn Street store, will be extended to 15 stores in September.
TM Lewin also said sales in the first quarter of its current financial year - the three months to May 28 - were up 27%, with a “strong increase” in EBITDA.
Quinn said: “We have a strong balance sheet, a proven business model and strong operational disciplines. We are confident we will deliver full-year results ahead of last year’s.”
The retailer plans to ramp up its online presence with a redesign of its website in September.