New store openings boost Footasylum's results in FY24

Footasylum's unaudited revenue for the year increased 7 percent to 320 million pounds and EBITDA increased 38 percent to 22 million pounds.

Commenting on the trading update, Barry Bown, executive chairman and CEO of Footasylum, said: “With the support of Aurelius, we have expanded Footasylum’s unique offering across the UK’s busiest high streets and shopping centres. Despite the fact that UK consumers are feeling the squeeze from continued inflation and higher interest costs, I am confident that Footasylum will keep on growing over the next 12 months.”

The company said in a statement that sales across all business channels grew in the year, driven by the successful opening and upsizing of a number of digitally-led stores. This was closely followed by the implementation of a market-leading omnichannel point-of-sale system that enables Footasylum customers to shop seamlessly online and in-store.

The company continued store opening and upsizing programme across the UK, including a 20,000 sq.ft. flagship on the Oxford Street, which opened in September, a 10,000 sq.ft. store in Lakeside Shopping Centre, Essex, an 11,000 sq.ft. store in Birmingham Bullring and a 6,000sq.ft. store in Atria Watford, both of which opened in October.

Footasylum also upsized its store in Westfield Stratford, encompassing a new women’s section, and its 6,000 sq.ft. store in Leicester’s Fosse Park.

Post reporting period, the company opened a Footasylum women’s store at Leeds White Rose.