The Fragrance Shop has experienced growth in the post-Covid era, with annual sales and profits on the rise. The retailer is pleased with its performance and is looking forward to further growth, especially with the upcoming move to a new combined headquarters and fulfilment center.

According to the latest accounts, the Fragrance Shop’s revenue reached £156.8 million in the 53 weeks ending on April 2, 2022. This is a significant increase from £110 million in the previous year and even surpasses the pre-pandemic revenue of £120 million in 2020. Despite online sales experiencing a decline of 12% from 2021, they still saw a substantial jump of 129% compared to 2020 when online sales spiked during the pandemic and lockdowns.

The Fragrance Shop attributes its success to its subscription services, including the MyTFS membership scheme and the Scent Addict discovery service, which have continued to perform well. These services have likely contributed to the increase in online sales.

The company also reported a pre-tax profit of £24.5 million for the year, a significant increase from £11.7 million in 2021. Despite the challenges posed by the Covid lockdowns, the Fragrance Shop managed to perform strongly when its stores reopened. Customer spend increased, resulting in a doubling of underlying store sales compared to the previous year and a 6.2% increase compared to 2019-20. The best-selling fragrances for women were Chanel Coco Mademoiselle, while Dior Sauvage proved to be the favorite among men.

Continuing its store rollout strategy, the Fragrance Shop added 18 new units during the fiscal year, bringing its total count to 215 locations across the UK. The company remains optimistic about its future prospects and states that it is well-prepared to navigate the current uncertainty. It will continue to expand its physical presence through store openings while also focusing on its digital footprint.

In conclusion, the Fragrance Shop has shown impressive growth in the post-pandemic era, with rising sales and profits. Its subscription services have played a significant role in driving online sales, and the reopening of stores has resulted in strong customer spend. With its store expansion plans and focus on digital growth, the Fragrance Shop is confident in its ability to continue thriving in the current business landscape.

Useful links:
The Fragrance Shop Website
The Fragrance Shop Blog