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Sales grow at Gant as retail expands

Sales at lifestyle brand Gant grew 1.7% to £48.5m in the year to 31 December, as it continued to gradually expand its retail channel. 

Gant

Gant

Gross profit increased 6.4% year on year to £28.6m during the period, while its profit before tax was up 4.9% to £2.8m.

Retail – which accounted for around 58% of revenues during the year, up from 57% the previous year – enjoyed a strong year, thanks to a lift in like-for-like store sales and the growth of online.

The company had 19 stores at the year-end. It will relocate its flagship on London’s Regent Street and open a new store in Leeds by the end of this calendar year.

The wholesale division also continued to grow.

“The business continued to enjoy excellent relationships and product sell-through performance with wholesale accounts,” said Gant’s UK and Ireland managing director, Fergus Patterson.

The brand’s main channels of distribution for wholesale are to department stores such as House of Fraser, independent retailers such as End in Newcastle-upon-Tyne and franchise partners.

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