Mamas & Papas is on course for a record financial year after a bumper Black Friday provided a golden quarter sales boost.
The nursery and babycare retailer posted a 17% sales boost in the 13 weeks to 31 December, following a record Black Friday performance which saw year-on-year sales grow 18% over the three-week promotional period.
Sales growth in its expanding store estate and concessions in the likes of Next and M&S were “better than expected”, while its online business grew 20%, with both channels “setting new records in the season’s key trading week.”
Underlying profit (EBITDA) is up 50% year on year and as a result of the performance the retailer said it expected to deliver a record-breaking turnover and full-year profits for the year ending March 2024.
Full-year sales for March 2023 reached £144m, with a reported £10.9m in profit.
Mamas & Papas CEO Nathan Williams said: “We are incredibly proud of our performance and hugely grateful to all of our teams who have made this happen.
“Last year, despite a challenging inflationary environment, we backed our strategy and continued to invest in the brand and the business for both long-term sales and profit growth. That approach is bearing fruit in the current year, with an excellent performance from our revamped digital business and expanded store estate.
“As new and expectant parents prepared for Christmas, Mamas & Papas was there to help them, both online and through more stores and concessions across the UK.”
”We’re looking forward to building on the momentum we’re currently seeing into the next year, expanding our presence both in the UK and overseas as the category leader in nursery and baby products and a purpose-led platform that champions parents and the planet.”