The Hut Group tops Profit Track 100 list

Online retailer The Hut Group, which includes handbag and accessories site MyBag.com and premium fashion retailer Coggles, has taken the top spot in this year’s BDO Profit Track 100 report for the second successive year, after recording a profit increase of 216.58 percent over the last three years.

The Cheshire-based firm, which sells third-party branded as well as own-branded products across 26 websites, covering fashion, accessories, health, beauty and sport, topped the chart again due to its impressive 16 million pound profits in 2014, before the deduction of some costs, on 248 million pounds of sales.

The report, which was published in The Sunday Times, also attributes their number one ranking to its great start to 2015 that has already included investing 100 million pounds in a new distribution and manufacturing centre in Warrington, along with a pledge to create 2,000 jobs over the next three years.

Matt Moulding, CEO of The Hut Group, said: "Topping the Sunday Times Profit Track rankings for the second year running is a fantastic reward for the hard efforts from team at The Hut.

“Due to the substantial investment made in the Group's proprietary technology platform since starting the business, it has been possible to undertake rapid international expansion, with the majority of the Group's sales now occurring outside the UK. Despite this focus on international expansion, it's is especially pleasing to still be very much be a North West business, with all of our 1,200 staff based in the local area."

Fashion and footwear retailers named on Profit Track 100 list

The Hut Group wasn’t the only fashion retailer listed in the league table, which ranks UK-registered private companies with the fastest-growing profits above 3 million pounds, based on their last three years of available accounts. Childrenswear retailer Childrensalon came in at number 10, thanks to its 100 percent increase in profits over the period. The report notes that its profits were helped along by its seven language websites, as the retailer sells branded designer childrenswear by the likes of Dior, Gucci and Burberry to Europe, the Middle East, America and Australia.

Clothing retailer Edinburgh Woollen Mill was listed just outside the top 30 at number 32, the Scottish wool and cashmere brand was noted for hitting 70.9 million pound profits in 2014, as well as buying out Jane Norman and Peacocks from administration over the three year period.

Footwear brand Loake was the third fashion name to make the list, the heritage label took the 68th spot after achieving annualised profits of 3.8 million pounds last year. Founded in 1880, the shoe manufacturer has made more than 50 million pairs of shoes, many of which were made in its Kettering factory.

The final fashion name included in the top 100 was lifestyle and clothing brand The White Company, who were ranked 95th. Known mainly for its affordable white bed linen and tableware, the retailer also carries an ‘everyday luxury’ fashion line of staples such as dresses, t-shirts and accessories. Last year the retailer was boosted by launching a US website as well as opening nine new stores, which helped increase profits to 6.5 million pounds.

The report also listed a “Ones to Recognise” top 10, for those companies that may not have achieved the minimum growth for the Profit Track 100 over three years, but have had or predict a good profit growth. It included plus size womenswear retailer Yours Clothing, who was recognised for its plans to open a new store every two weeks in 2015, as well as making 30 percent of its clothing in the UK. The league table also noted that the fashion chain had achieved a 2.7 million profit in the 52 weeks to February 2014, and that it was on track for doubling its profits this year.

Commenting on its inclusion, a Yours Clothing spokesperson added: “It is great to be featured as a “One to Recognise” in the Sunday Times BDO Profit Track 100. We have been expanding rapidly with over 70 stores now open in the UK.

“The rest of 2015 will bring exciting times for Yours Clothing with further stores opening in the UK and internationally, and an updated website launching this summer. It is great to be acknowledged for all the hard work that the team, staff and suppliers have put into the success of the brand.”

Images: MyBag.com and Childrensalon