Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

International fuels Phase Eight sales and profit growth

Phase Eight enjoyed strong sales and profit growth in the 14 months after it was bought by South African retailer The Foschini Group, boosted by its expansion overseas.

Phase Eight

Phase Eight

Sales at the womenswear retailer rose 24% for the 14 months to 2 April, while EBITDA increased 27%.

Globally it opened a net total of 105 stores and concessions during the period, including 46 outside the UK. It now has 555 points of sale, including 13 online channels.

It experienced growth in Asian markets including Japan, Hong Kong and Singapore, and continued to expand in Europe, the Middle East and the US. International sales now represent more than 20% of group sales and EBITDA.

Phase Eight said it will continue to focus on “profitable growth” in the UK and Ireland, both through new store openings and expansion of its product range. It did not provide further detail.

The Studio 8 plus-size collection, which launched in August 2015, was “particularly well received” by shoppers, it said.

Chief executive Ben Barnett said: “This has been an excellent year for Phase Eight, with further progress on our journey to build a truly international brand. Our continued focus on delivering exceptional product and service, both offline and online, has allowed us to grow our customer base, supporting our global sales and profitability.”

Lee Harlow, managing director of Phase Eight, added: “The current financial year has started very well, with warm weather in the UK proving no barrier to a strong reaction to our autumn collections through the season to date.”

The Foschini Group agreed in January 2015 to acquire 85% of Poppy Holdco, which trades as Phase Eight, from private equity group TowerBrook. The deal valued Phase Eight at £238m.

The South African retailer went on to acquire a substantial majority shareholding in Whistles for an undisclosed sum this March. Last week, it emerged that Whistles chief executive Jane Shepherdson has left the business.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.