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Christmas sales sparkle at AllSaints

AllSaints recorded a spectacular 32% like-for-like sales rise over Christmas.

The young fashion chain’s chief executive Stephen Craig said December and January had been “above expectations” with “less than budgeted markdown”.

Craig, who topped the Drapers Top 100 most influential people list in 2009 along with chairman Kevin Stanford, added that the chain maintained double-digit like-for-like growth during the disruption caused by the snowy weather earlier this month and that web sales had been boosted by the extreme weather.

AllSaints, which Craig referred to as “still a young brand”, will benefit from investment in categories including denim, footwear and accessories in 2010,” he added.

The successful Christmas trading period compared with a difficult festive season in 2008 when AllSaints was hit by supply chain issues caused by the loss of credit insurance following the collapse of Icelandic bank Glitnir and investment group Baugur, its backers at the time.

AllSaints is also believed to be close to signing a flagship store in London’s Regent Street.

Last year, AllSaints secured a £30m investment from Lloyds TSB Corporate Markets.

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