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Seasalt benefits from strong online sales at Christmas

Seasalt has said its overall sales increased by 17% year-on-year in the five weeks to 2 January after online sales surged by 95%. International sales were… View Article

FASHION

Seasalt benefits from strong online sales at Christmas

Seasalt has said its overall sales increased by 17% year-on-year in the five weeks to 2 January after online sales surged by 95%.

International sales were also strong with an uplift of 20%.

In contrast, store sales were down 44% in the period due to Covid-19 restrictions.

Despite the disruption caused by the coranavirus pandemic, Seasalt is anticipating that sales across all sales channels will only be down 9% year-on-year in the 12 months to 30 January 2021. The retailer said store sales are likely to be around 57% lower than those in the previous financial year, although online sales are expected to increase by 72%. Seasalt attributed the uplift to high demand for its relaxed style of clothing due to customers spending more time at home during the pandemic.

Paul Hayes, Seasalt chief executive, said: “We had started our digital transformation well before the first lockdown, but the events of the past year have accelerated all our plans. We now make approximately two-thirds of our sales online and while our stores remain a vital and constantly-evolving part of the business, we expect a much higher percentage of sales to be digital from now on.”

Giving information on the financial year to 1 February, Seasalt said turnover increased by 15% to £75.4 million while operating and pre-tax profits came in at £1 million and £0.7 million respectively.

Hayes added: “As we begin our 40th anniversary year, we have taken the steps necessary to prepare Seasalt for the challenges ahead and we are well positioned for continued success as the economy recovers.”

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