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SportsShoes.com posts record full year revenue

SportsShoes.com has seen its annual sales rise by 37% to a record £92.2 million after it benefited from more people enjoying sporting activities during the Covid-19… View Article

SPORTS & LEISURE

SportsShoes.com posts record full year revenue

SportsShoes.com has seen its annual sales rise by 37% to a record £92.2 million after it benefited from more people enjoying sporting activities during the Covid-19 pandemic.

In the year to 28 February 2021, EBITDA  before non-recurring costs was also up, increasing by 118% to £12.2 million.

Established in 1982, the sportswear retailer offers more than 17,000 products from 149 brands including the likes of Asics, Nike, Adidas, Hoka, New Balance and Rab.

SportsShoes.com managing director Brett Bannister (pictured) said: “Put simply, as a business we want to get better and help people get better.

“These principles ensured we had a stellar financial year in 2020-21 which was driven by more and more people wanting to run, exercise and enjoy the outdoors when pandemic restrictions allowed.”

Meanwhile, the retailer said sales for the seven month period from 1 March to 30 September 2021 have come in broadly in line with last year’s performance with UK sales up 11.9%. In addition, repeat business from existing customers has increased by 20%.

The retailer has introduced a range of new initiatives this year as it looks to enhance how it engages with customers. This has included the relaunch of a membership community which now has 1.25 million members.

Bannister added: “Trading conditions this year have become more complex due to the well documented global supply chain issues that are impacting retailers. However, we have excellent relationships with our brand partners which helps offset this situation.

“We are looking forward to establishing more brand partnerships as we continue to grow and further strengthen our position as the runners’ premium online retailer of choice. ”

 

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