Bodycare has reported a rise in sales over the golden quarter driven by increasing margins and in-store sales as it looks to expand to the south of the UK.
The health and beauty retailer reported an 8.2% rise in sales for the four weeks to December 31, 2023, while overall sales in the golden quarter went up by 7% driven by improved product margins on the back of full-price sales.
Bodycare, which has more than 130 stores, predominantly in the north of England, was sold by its founders of investor group Baaj Capital in 2022.
The retailer said it was looking at strengthening its store portfolio, with 20 new stores opening in 2024, six out of which will open within the next eight weeks as it looks to expand to areas including East Anglia, Kent and Greater London.
At present, Bodycare has one London store, in Walthamstow, with a second due to open in four weeks in Wood Green.
Tony Brown, chief executive of Bodycare, said: “While we are exceptionally pleased with the results, especially coming on the back of last year’s successful Christmas, we still have significant opportunities to move the business forward in 2024.
“The sales and margin increase has been achieved mainly from bricks and mortar. We will be launching our new ecom platform working with Twenty Twenty digital marketing, one of [owner] Baaj Capital’s investments in the coming weeks.”
Jas Singh, Baaj said: ”Working alongside the new management team, we have been able to bring significant group resources in supporting the turnaround strategy and are pleased with the results. We are fully supportive of the growth plans and will commit resources to assist management and expand on new store formats.”