Sales and profits surged at Footasylum as younger shoppers turned to top brands despite a ‘challenging’ economic environment.
The Rochdale-based shoes and clothing chain reported a record financial performance in the year to the end of January.
Revenues totalled £350million over the period, about 9 per cent higher than the previous year.
Profit nearly tripled from £6million last year to £17.2million over the latest financial year, the firm said.
Footasylum claimed this was driven by both store and online sales increasing, while sales of its exclusive brands – items which are only available through the retailer – doubled year-on-year.
Footasylum’s key customer base are Generation Z shoppers, who the retailer has said typically prioritise spending on fashion, embrace new trends, and regularly shop through digital channels.
On trend: Rochdale-based shoes and clothing chain Footasylum reported a record financial performance in the year to the end of January
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
InvestEngine
InvestEngine
Account and trading fee-free ETF investing
Trading 212
Trading 212
Free share dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
This article was originally published by a www.dailymail.co.uk . Read the Original article here. .