Yours Clothing posts revenue growth of 22 percent in FY17

Announcing its full year results for the year ended January 28, 2018, plus-size fashion retailer, Yours Clothing said that total group revenue increased by 22 percent to 88.3 million pounds (121.7 million dollars). The company added that while online sales grew by 26 percent to represent 41percent of total sales, store sales increased by 20 percent and international sales increased by 48 percent to represent 7 percent of total sales.

Commenting on the company’s performance, Andrew Killingsworth, Founder and CEO of Yours Clothing, said in a statement: “Yours Clothing delivered an excellent performance in the year ended January 28, 2018, ahead of our initial expectations. This growth reflects the growing demand of our products and the strength of our omni-channel business model. Yours has a loyal and increasing customer base and with growing momentum in the UK and online.”

Yours expands UK retail footprint, grows online presence

Yours opened 30 new stores during the period resulting in a total of 130 stores at the year-end, with a further six stores launched this fiscal year. In addition, the Group sells through a further ten stores internationally including the group’s first wholly owned international store opened in Dublin post the year-end. The company also the launched a number of country specific websites in the US, Germany, Netherlands, Ireland, France, Australia, Poland and Russia during the year.

The company said, BadRhino, the group’s fast-growing menswear brand, reported a sales surge of 27 percent to represent 4 percent of the total sales. The brand was launched with Tesco in November and started selling online with Zalando, in December. Post the year-end, Yours Clothing also announced the appointment of Jonathan Wall as a Non-Executive Director. Wall, who is also Chief Digital Officer at Missguided, joined the business on April 1st, 2018.

Gross profit for the year was up 35 percent to 52.5 million pounds (72.3 million dollars) and profit before tax was 6.6 million pounds (9.1 million dollars). In FY17 the group recorded a loss before tax of 1.9 million pounds (2.6 million dollars), which the company said, in part reflects an exceptional cost of 1.2 million pounds (1.6 million dollars) in relation to stock management system changes.

Picture credit:Your Clothing