Sales at Charles Tyrwhitt have continued to climb since its year end last July, when the men’s and women’s tailoring retailer posted a 45.9% rise in profits.
For the year to July 30, 2011, turnover climbed 38.5%, from £56.8m to £78.6m, as operating profit rose 45.9% to £7.3m. Like-for-likes for its standalone stores division increased about 8%.
Since the year end, Charles Tyrwhitt has seen sustained growth. Founder Nick Wheeler said: “At the moment we are running about 30% up on last year but you’ve got to take every day as it comes.”
Wheeler said the company’s continued devotion to quality, service and value had driven the sales increase: “What we’ve been trying to do is be the best shirtmaker in the world, so we focus on doing what we do best.”
Charles Tyrwhitt will open its 15th UK store, in London’s Holborn, next week, and plans to keep expanding by opening four stores a year. It will open its third New York store and an outlet in Washington DC in May. It also sells via mail-order and via its transactional website.
The retailer has increased its customer service staff, with the total headcount rising from 312 to 400 in the year to the end of July, 2011.
As part of the retailer’s service, Charles Tyrwhitt also offers a full six-month guarantee to customers. “The benefits of doing it is that people really trust and believe in the brand,” said Wheeler.
Charles Tyrwhitt would continue to focus on what it does well, added Wheeler. “For the past 25 years, the best-sellers have been white shirts and that’s the nice thing for us: we don’t get left with things that people think are no longer fashionable.”