AllSaints reports a slight increase in total revenue for the year ending February 2024.
- The brand sees a substantial rise in EBITDA, attributed to strategic focus areas.
- Retail revenue shows a small decline, while non-retail ventures drive growth.
- The company achieves a record gross profit margin of 63% through strategic measures.
- Operational profit significantly improves, marking their third consecutive strong performance.
Global fashion brand AllSaints has reported its financial outcomes for the financial year concluding on 3 February 2024, with total revenue experiencing a marginal increase of 0.6%, reaching £459.5 million compared to the previous year’s £457 million.
The company’s EBITDA saw a substantial increase of 18%, bolstered by a continued emphasis on product development, marketing strategies, and distribution networks, as articulated by the group.
Retail revenue encompassing stores and e-commerce showed a modest decrease of 2.9% to £316.5 million from £326 million in 2023. In contrast, non-retail revenues, including wholesale, franchise, and licensing activities, surged by 18.4%, achieving £77 million compared to £65 million in the preceding year.
Integral financial results encompassed those of the luxury menswear label John Varvatos, acquired in October 2021, with its revenue remaining stable at £66 million compared to £66.1 million the prior year.
The brand’s gross profit margin impressively rose to 63% from the previous year’s 62.2%. This development was attributed to favourable customer responses towards seasonal product introductions, diminished promotional and markdown activities, and consistently efficient inventory management, according to AllSaints.
Operating profit rose 40% to £39.9 million, a growth of £11.4 million, with £5 million attributed to exceptional income. CEO Peter Wood expressed satisfaction with these achievements, particularly noting the enhanced reach through wholesale and licensing partnerships as instrumental in the brand’s sustained growth.
The year also marked the brand’s 30th anniversary. Throughout 2024, AllSaints launched a new concept store in Los Angeles, inaugurated its first outlet in mainland China, and opened a new John Varvatos store in Houston, symbolising the brand’s expanding global footprint.
AllSaints’ strategic initiatives and partnerships have effectively contributed to a resilient financial performance amidst challenging market conditions.
