Our Client, UK fashion retailer, Seasalt Cornwall , has announced tremendous Christmas results despite challenging online trading conditions. Online sales were up 11% year on year, for less cost on Google.
For the full year to the end of January 2023, Seasalt posted underlying EBITDA of more than £8.5m, up from £7.9m the previous year.
Revenue for the full year was also up by 23% to reach £118m, while like-for-like store sales were up 12% on a pre-Covid comparison from 2019.
In terms of outlook, Seasalt expects revenue for the full year to January 27, 2024, to be up 12.5% and exceed a total of £135m, while EBITDA is anticipated to reach more than £10m.
Seasalt chief executive Paul Hayes said: “Sales have been strong throughout the key festive trading weeks in 2023 and we’re proud to have been able to build on the success we’ve seen in recent years, despite ongoing external economic challenges. 2024 is set to be a milestone year as we open our first stores in North America and we’re already seeing positive early signs of progress from our international growth over the past year, which is giving us confidence for the year ahead.”
It’s been wonderful to have been able to contribute to their success and we look forward to delivering more online growth in 2024.
