AllSaints reports a ‘record year’ as sales rise on global growth
Premium fashion brand AllSaints has reported a “record” financial performance for the past year after sales rose by a quarter.
The retailer, known for its leather jackets and biker boots, said its total sales for the year to the end of January were £390.9m, up 25% from £312.9m last year.
The jump in sales came as the group continued its international expansion with the opening of its first stores in mainland China, Shanghai and others in Taiwan and South Korea.
AllSaints is headquartered in Shoreditch, London, has approximately 240 stores, concessions and outlets in countries around the world and employs more than 2,000 people.
Investments in a new digital platform helped improve sales in 2022, the company said.
CEO Peter Wood also said the company’s focus on product development and “rigorous” inventory management has paid off in terms of financial performance.
Across the group, which also includes New York luxury menswear brand John Varvatos, which it acquired in 2021, sales rose 36% to £457 million.
The company also announced that its operating profit nearly tripled to £28.5m in the period from £10.1m a year earlier.
Mr Wood said: “This has been a record year for AllSaints and these results are a huge credit to the passion, creativity and hard work of our amazing team around the world.”
“The performance was driven by our intense focus on product development, e-commerce excellence, expanding our global store network and rigorous inventory management.
“Given the strong momentum of both brands and our demonstrated resilience in even the most challenging consumer environments, we remain extremely confident about the future prospects of the group.”
The company has not yet published its full financial statements in Companies House.
https://www.standard.co.uk/business/business-news/allsaints-reports-record-year-as-sales-soar-amid-global-growth-b1099022.html AllSaints reports a ‘record year’ as sales rise on global growth
