Ann Summers sales and profits heat up as shoppers return to stores

The lingerie and sex toy retailer posted a 4.5% increase in turnover to £104.6m for the 53 weeks to July 1, 2023, up from £100.1m in 2022.

Gross profit for the full year was up 3% year on year from £60m to reach a total of £61.8m.

Store sales were up 12% year on year, marking the retailer’s “most profitable channel” and reflecting the return of shoppers to the high street.

Ann Summers opened four new stores during the year, including Chelmsford in Essex, Buchanan Galleries in Glasgow, and Croydon and Brent Cross in London. It confirmed there are further plans to “grow its retail footprint in key locations” this year.

The retailer hailed its “strong” Halloween performance despite rising inflation and the ongoing cost-of-living crisis “greatly” hitting consumer confidence and discretionary spend during the second half.

During the year, Ann Summers started a website redesign to “improve the look and feel of the site and make it even easier for customers to shop”.

Ann Summers also launched a ‘going out’ clothing range and introduced its Planet Pleasure sex toy range with “improved sustainability credentials”.

Ann Summers chief executive Maria Hollins said: “This financial year has been one of great personal and professional sadness for the Ann Summers business following the passing of two key members of our family-owned business, former shareholder David Gold and Jacqueline Gold CBE.

”The loss of Jacqueline has been immeasurable to us and our colleagues but we, with the support of Vanessa Gold, our executive chair, remain determined to continue her legacy and ensure the growth and success of Ann Summers for the future.

“Despite the challenges the year presented the business, turnover continued to grow year on year, a direct result of our clearly defined commercial business strategy and the continued investment in our business. We remain excited by the opportunities ahead of us.”