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Seasalt sales continue to swell

Seasalt has posted a 23% rise in turnover to £34.7m for the year to 30 January, while gross profit jumped 19% to £18m compared to the previous year.

Seasalt

Seasalt

Seasalt

Profit for the financial year fell 47% compared with the previous 12 months, to £1.4m, which the Cornish lifestyle retailer said was planned and is a reflection of a significant investment in people and systems to support the next phase of growth.

Online sales increased by 27% during the year and represented 31% of total sales mix. The firm also expanded its international customer base during the year, selling to 138 countries via the UK website, as well as in Germany through 150 wholesale customers.

Seasalt employed 482 people by the year end, up from 356 in 2015.

Co-founder Neil Chadwick said: ”This year we have pushed the business forward on two fronts. We have continued to focus on product innovation and delivering great customer experience, which has helped us find new customers and maintain our track record of sales growth. At the same time 2015 was the start of a two-year investment programme in people and critical IT infrastructure that will provide a platform for the next phase of expansion.”

Seasalt opened seven new stores in 2015 and by the end of 2016, it will have opened ten more bringing the total to 40 stores. It has opened recently in York, Sevenoaks and Tunbridge Wells.

 

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