Revolution Beauty losses widen as it plans extensive US expansion
Beauty retailer Revolution Beauty reported widening losses as it unveiled plans to extend its reach in the US retail market.
Revolution Beauty reported a loss after tax of £15.2m in the six months ended August 31, 2021, a further drop from the £6m loss posted in the first half of 2020. Adjusted EBITDA rose by 39% to £5.1m year on year.
Group revenue increased by 39% to £78.6m. This increase was attributed to the re-opening of stores, with US store sales rising 102%, followed by revenues from UK stores which increased by 78%.
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