Beauty Bay turnover declines but margins improve

For the year to March 31, 2023, Manchester-based beauty retailer Beauty Bay recorded turnover of 75.5 million pounds, a reduction of 19 percent on the prior year.

The company attributed the decline in turnover to re-focus in group strategy in order to drive unit economics and profitability at an order level as opposed to chasing top-line turnover with the associated high cost of doing this.

The company also continued to focus on its private label By Beauty Bay business by launching new product offerings with a focus on key domestic and international markets.

Beauty Bay delivered improved product margins with overall gross profit margins improving 3 ppts to 17 percent during the year under review. The company also achieved a similar gross profit of 12.9 million pounds compared to the last year despite a drop in the turnover.

The company’s pre-tax loss narrowed to 5.6 million pounds, while EBITDA loss was 3.5 million pounds. The adjusted pre-tax loss was 4.5 million pounds and adjusted EBITDA loss reached 2.3 million pounds.