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Profits and sales rise at JoJo Maman Bébé

JoJo Maman Bébé has bucked the retail trend to post a 20% rise in revenues to £57.5m and a 14.5% increase in like for like sales for the year to June 2017.

The kidswear and maternitywear firm, which is favoured by the Duchess of Cambridge, also saw profits before tax rise to £3.9m, up from £3.6m the previous year.

Online sales were particularly strong, rising by 39.8% to £18.2m, up £5.9m in a year. Online sales represent a third of Jojo’s total revenues.

Profits were hit slightly by losses in the firm’s US operations, which saw sales growth of 32.9% but posted a loss of £0.5m for the year.

In its directors statement JoJo Maman Bébé said: “During the year international trade saw turnover at £200,000 above the previous year with sales in this channel being 5.3% of turnover.

”The board remain encouraged by the positive reception to the brand from numerous territories and a new trade website us under development for launch in 2018.”

Dreamt up by founder Laura Tenison in a hospital bed as she nursed 20 broken bones, JoJo Maman Bébé aims to tackle head-on the ethics of retail and the demise of the UK high streets.

The firm has consistently grown revenues in the past five years, with revenues rising by 43% since 2013.

The annual report’s statement added: “Whilst growth in sales continues to be strong, the macroeconomic and political instability surrounding Brexit means consumer finances remain under pressure. The management team closely monitors the key performance indicators of the business on a daily, weekly and monthly basis, paying particular attention to like for like trading.”

The firm’s strategy states that JoJo Maman Bébé will invest further in infrastructure, international growth via websites and trade sales to 46 countries.

It also plans to open around eight new outlets per year, with the first US stores opening in spring.

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