UK-based fashion retailer AllSaints has reported strong revenue growth for its latest year and continued positive trading performance for the first half of the new year. The company’s total revenue for the year ending January reached £337 million, including four months of trading for John Varvatos. AllSaints’ own label saw a revenue growth of 20% to £312.9 million, despite the impact of store closures and social restrictions on its global shops.

The retail revenue, which includes stores and e-commerce, increased by 15% to £268 million. Non-retail revenues, including wholesale, franchise, and licensing, rose by 59% to a record £45 million. This growth can be attributed to the company’s efforts to expand its customer base. Pre-operating exceptional EBITDA increased to £39 million, and total post-operating exceptional EBITDA rose by 6% to £35.7 million. Operating profit also saw a significant increase, reaching £10.1 million compared to £0.7 million in the previous year.

In the first six months of the new year, both the AllSaints and John Varvatos brands achieved year-on-year revenue increases of 36% and 13% respectively. Despite store closures in the UK, Europe, and Canada in the previous year, sales performance has exceeded expectations. AllSaints noted that footfall in physical stores has been better than forecasted, digital conversion rates have been strong, and non-retail channels have witnessed good growth compared to the previous year.

The company also emphasized its focus on sustainability and diversity during the year. It recently launched the AllSaints Spitalfields limited edition pieces, which were produced in its East London headquarters with British fabrics. These pieces have an extremely low carbon footprint and support local manufacturers.

CEO Peter Wood expressed his pride in the company’s performance, attributing it to a strategic focus on product, marketing, and distribution. He highlighted the company’s omnichannel operating model, which helped mitigate the negative impact on physical retail channels during the pandemic. Wood also highlighted the successful integration of the John Varvatos brand, stating that it has already returned to profitability under the company’s stewardship. He expressed confidence in the synergies between AllSaints and John Varvatos, foreseeing their contribution to the group’s future growth.

Useful links:
1. AllSaints Official Website
2. John Varvatos Official Website