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AllSaints’ sales buck downturn

Young fashion chain AllSaints has racked up a phenomenal 43% like-for-like sales boom for the year to date, bucking the gloom in the retail sector.

AllSaints chief executive Stephen Craig said that EBITDA was up by “a healthy” 15% and that sales for the financial year 2008/09 were double those of 2007, when sales were £46.9 million for the year to February 3 2008.Craig said sales had been consistently “well above budget” throughout 2008.

Christmas trade was also strong, above budget and ahead of market rivals, according to the company. Craig said that unlike some of its high street rivals, AllSaints did not discount in its shops pre-Christmas, helping it to maintain margin and its brand positioning.

In addition to opening several new stores last year, AllSaints ramped up international expansion with openings in Paris in October and Antwerp in November. Craig said that both of these stores had traded ahead of budget and expectations.

AllSaints is part owned by investment firm Baugur. Baugur has a stake of about 35%.

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