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Sales and profits up at Lipsy

Lipsy reported a 23% rise in turnover and a 15% increase in operating profit for the year to 27 January 2018.

The young fashion business, which is owned by Next, said revenues for the year totalled £99.3m, up from £80.5m in 2017.

Operating profit stood at £6.7m, up from £5.8m the previous year.

Gross profit margin also rose to 22.9% from 22.1% in 2017. 

The company confirmed that it closed its own website in January to concentrate on sales via the Next portal.

Lipsy’s sales of third-party young fashion brands have grown over the year. Third-party brands now account for 44% of sales, up from 34% in 2017. The business said it anticipated this to increase in years ahead.

Lipsy has 40 stores in the UK and in March opened a new store on Oxford Street.

It also trades from more than 40 franchise stores internationally.

The company confirmed that it closed its own website in January to concentrate on sales via the Next portal.

 

 

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