Value fashion retailer M&Co has been opening stores in targeted high street locations this year, as well as carrying out the ongoing modernisation of its existing portfolio.
It has also invested in its IT systems and the customer experience. The strategy seems the be paying off: in November, it reported a 5.4% rise in sales to £211.4m for the year to 23 February 2018. Like-for-like sales were up 3.9%, and online sales 18.3%. Operating profit remained at £6m, while EBITDA was “broadly flat”, at £10.8m.
Andy McGeogh, who took the helm of the family-owned business from his father in 2015, said the growth in sales was “hugely encouraging” given the complexities of the current market.