Seasalt has experienced a remarkable rise in operating profit, reaching £7.9m, a 146% increase.
- The company’s revenue grew by 12% compared to the previous year, totalling £132.6m.
- Seasalt expanded its physical presence with new store openings across the UK and Ireland.
- Partnerships with third-party platforms now contribute significantly to Seasalt’s revenue.
- Future growth plans include opening stores in North America to continue their upward trajectory.
Seasalt has witnessed an extraordinary increase in operating profit, reporting a 146% surge to £7.9m for the year ending 27 January. This impressive growth is driven primarily by robust sales performance in its physical stores across the UK and Ireland.
The company achieved a 12% increase in total revenue, amounting to £132.6m, attributed to ‘record-breaking’ sales. All Seasalt stores outperformed the prior year’s results, with a 10% rise across the board as customers spent significantly more per visit, according to the company.
Continuing its strategic expansion, Seasalt has opened new stores in key locations such as Sheffield, Aberdeen, Trentham, Malvern, and a pop-up in Plymouth. Additionally, a third store was launched in Kenmare, Ireland. These expansions have brought the total number of profitable stores to 73.
Strategic alliances with third-party platforms, including Marks & Spencer, Next, and Zalando, have bolstered revenue streams. These partnerships now comprise 13% of the group’s total income, up from 9% the previous year, highlighting a significant strategic win for Seasalt.
Looking ahead, Seasalt is set to further its expansion by launching its inaugural North American store in New England this summer, with plans to establish 20 more stores in the US over the next three years. CEO Paul Hayes expressed strong optimism about realising and potentially surpassing these ambitious growth plans, despite external economic challenges.
Seasalt’s strategic expansion and strong store sales position the company for continued success, both domestically and internationally.
