“Strong growth and momentum” ahead of expectations have been reported from plus-size womenswear retailer Yours Clothing, as it attributes growth to increasing presence across its distribution channels and “strengthening customer recognition” of the brand.
Total group revenue increased by 22% year on year to £88.2m for the year to 28 January 2018, compared with £72.1m for the year to January 2017. Online sales grew by 26%, representing 41% of total sales, while store sales increased by 20%. Gross profit rose by 35.2% to £52.5m, compared with £38.9m for FY17, and profit before tax was reported as £6.6m.
International sales increased by 48%, after the retailer launched more international websites including in the US, Netherlands and Australia, and it reported “particularly strong performance” in Germany and France.
The retailer opened 30 new stores for the period, resulting in a total of 130 stores at year end, compared with 100 at the end of FY17.
Founder and CEO of Yours Andrew Killingswoth said: “Yours Clothing delivered an excellent performance in the year ended 28 January 2018, ahead of our initial expectations. This growth reflects the growing demand of our products and the strength of our omni-channel business model.
“Yours has a loyal and increasing customer base and growing momentum in the UK and online. We are well positioned to capitalise on further opportunities in our core business as well as internationally and across our menswear range. We are excited about the significant growth opportunities ahead as we look to realise our ambition to be the leading plus-size retailer in the UK.”