Yours Clothing has reported strong growth online and offline after a year in which it opened 26 stores and expanded internationally.
The plus-size fashion retailer opened 26 stores and expanded internationally as well, opening three new stores in northern Germany and establishing a presence in Dublin. Its mens division, BadRhino, now has four dedicated menswear stores and that number is set to increase over the coming year. Online, the retailer has 10 local language websites, that account for 8.5% of overall sales, after a year in which its German, French and Spanish language sites performed strongly.
The retailer said continued uncertainties around Brexit would “inevitably” impact on the business since this “significant event” might lead to a significant downturn in UK and European economic activity. However, it expects its EU based customers to stay with it, and hopes that its EU staff will also remain loyal. It does not expect customs friction and expects it will be able to keep its current trading terms with suppliers, most of whom are based overseas and, it says, “we believe we can work around any friction in the delivery of our sales to offer a competitive service.”
Pre-tax profits increased by 87% to £12.4m in the year to February 3 2019, on sales of £105.5m, up by 19% on the previous year. In-store sales were 20% ahead of last time, with online sales up 18% over the year. The retailer said that profitability increased by three percentage points as it focused on better quality, more seasonal products and better buying techniques.
Andrew Killingsworth, founder and chief executive of Yours Clothing, ranked Top100 in IRUK Top500 research, said: “I am pleased to report another strong performance from the brand. This result is a true testament to our hard working and passionate people across the business, and I would like to take this opportunity to thank each and every one of them for their outstanding efforts throughout the year.
“We couldn’t have achieved what we have with our valuable and loyal customers, and we thank them for their continued trust in Yours Clothing to deliver what they want, when they want it, which is affordable on-trend clothing that fits and flatters every time.
“Despite tough trading conditions and the wider economic factors, we believe our business model, customer focus, quality and affordable product offer, exceptional team and growing customer base positions Yours for continued growth. We remain confident that this momentum will continue throughout the year.”
Image courtesy of Yours Clothing