Fred Perry, the renowned British fashion brand famous for its iconic polo shirts, has recently announced positive sales and profit figures. In the 12 months leading up to March, the company achieved an impressive pre-tax profit of £28.3 million, marking a significant increase from the £21.3 million it earned in the previous period. This notable growth can be attributed to a combination of higher sales and effective cost management.
During this period, Fred Perry experienced a 3% increase in sales, reaching £122.2 million. The company’s international operations played a pivotal role in driving this growth, as sales in these regions surged by 13%. In contrast, sales in the UK and Europe remained steady compared to the previous year, where the company recorded a 6% increase.
The company’s gross profit also witnessed a substantial rise, soaring from £59.8 million to £66.1 million. Consequently, the gross margin percentage increased to 54.1%, up from 50.4% in the previous year. This growth in profit can be attributed to several factors, including changes in the sales mix, positive currency hedging, and the implementation of effective cost control measures.
Moreover, Fred Perry’s overall financial position has significantly improved, with net assets increasing to £133.1 million and cash reserves rising to £7 million. These figures reflect a positive outlook for the brand, highlighting its ability to maintain a strong and stable financial position.
In addition to its financial success, Fred Perry has actively expanded its store presence. Following the end of the financial year, the company opened several notable stores, further establishing its brand presence. It successfully debuted a new location on Glasgow’s Ingram Street and launched its first-ever store in Spain. Additionally, in October, Fred Perry opened a music-themed store in Camden, followed by a flagship store in Lower Manhattan, New York City, in November.
The recent achievements and expansion of Fred Perry exemplify the brand’s impressive performance in the market. With increasing sales, rising profits, and a growing number of stores worldwide, the company is in a favorable position for continued growth and success within the fashion industry.
1. [Fred Perry Official Website](https://www.fredperry.com/)
2. [BBC News – Fred Perry reports sales and profit rise](https://www.bbc.com/news/business-61433987)