Yours Clothing full year performance ahead of expectations
Plus size fashion retailer Yours Clothing increased its revenue by 22% to £88.3 million in the year to 28 January as the company opened 30 new stores across the UK.
Online sales rose by 26% to represent 41% of total sales while in-store sales climbed by 20%.
The online increase was driven by improvements to the company’s platform and website content and the popularity of its click and collect and order in-store fulfilment options.
The uplift in sales resulted in Yours Clothing making a pre-tax profit of £6.6 million compared to loss of £1.9 million in the previous year.
Andrew Killingsworth, founder and chief executive of Yours Clothing, said: “Yours Clothing delivered an excellent performance in the year ended 28 January 2018, ahead of our initial expectations. This growth reflects the growing demand of our products and the strength of our omnichannel business model.”
Yours Clothing now operates 135 shops in the UK after the opening of a further five stores since the year-end.
The company also sells internationally through a further ten stores including its first wholly owned international store opened in Dublin in the current financial year. During the year to 28 January, the company launched country specific websites in the US, Germany, the Netherlands, Ireland, France, Australia, Poland and Russia. This helped international sales to increase by 48% to represent 7% of total sales in the period.
Yours Clothing also saw growth at its BadRhino menswear brand where sales rose by 27% to account for 4% of total sales. The brand launched with Tesco in November and started selling online with Zalando in December.
The company is investing in its infrastructure and long-term growth with the expected purchase of a new warehouse facility in Peterborough which it intends to transfer to in the year ahead.
Looking ahead, Killingworth added: “Yours has a loyal and increasing customer base and with growing momentum in the UK and online. We are well positioned to capitalise on further opportunities in our core business as well as internationally and across our menswear range. We are excited about the significant growth opportunities ahead as we look to realise our ambition to be the leading plus-size retailer in the UK.”
