Maternity retailer JoJo Maman Bébé expects to shrug off the downturn to record its most profitable year.
Founder and managing director Laura Tenison said the retailer – whose financial year finishes at the end of June – has recorded an 11 per cent hike in like-for-like sales in the year to date, helped by its niche position. “We have never suffered from the recession, our sales have been consistently good,” Tenison said.
However, she said some of its stores could be adversely affected on high streets where several other stores had closed down. She added that it therefore “helps” that the retailer is multichannel.
Next month, JoJo Maman Bébé will open its website up to other currencies to increase trade from Europe, a move that, like many other retailers’ strategies, will allow it to take advantage of the weaker pound. It could also be a prelude to the retailer opening its first store abroad.
Last year the retailer opened 10 stores to take its total to 22 but, apart from a store opening at Marlow in Buckinghamshire in four weeks’ time, JoJo Maman Bébé will be more conservative in its approach to store openings this year.
Tenison said that the sunny weather last weekend had helped it have one of its best ever weekends.