Sportswear retailer Footasylum has reported another “record” year of profits and sales helped by its ongoing store expansion strategy and enhanced omnichannel retail technology.
Footasylum reported a 41% rise in underlying EBITDA for the full year to January 27, 2024, up from £15.8m last year to £22.4m, while profit before tax surged 112% to £6m.
Footasylum also posted a 7% increase in revenue for the period to reach £319.5m, marking another “record” year for the business.
Sales across womenswear and childrenswear were up 16% and 14% respectively, while online sales at Footasylum also rose 15%.
Footasylum said wholesale sales soared 87% during the year and they now account for 5.3% of the retailer’s total sales.
During the year, Footasylum continued its store opening and upsizing programme with new openings at Oxford Street, Birmingham Bullring, Lakeside shopping centre, Westfield Stratford and Atria Watford, among others.
Footasylum said it bolstered its “technology capabilities” during the year in a bid to enhance its “digital-first customer journey”.
In terms of current trading, Footasylum said its “strong performance” has continued as it remains on track for the 2025 full year to date.
Footasylum chief financial officer Nick Scott said: “We are delighted to report that FY24 has marked Footasylum’s best-ever financial performance. We achieved record revenues and profits, driven by double-digit growth in both wholesale and online sales. Our performance was also supported by the success of our creative content channels, which now boast an astonishing 5.8 million followers.
“During the period, we also made strategic investments for future growth. We enhanced our technology to support our omnichannel customer journey, expanded our highly popular own brand portfolio, and continued our digital-first, bigger-and-better store expansion programme. With strong momentum across the business and the proven success of our ambitious growth strategy, we are extremely optimistic about Footasylum’s future prospects.”
Managing director of Footasylum owner Aurelius Group, Tobias Klaiber, said: “Footasylum’s continued strong growth underpins the impact of the bespoke guidance that we are able to provide with our team at Aurelius Operations Advisory. Our specialists support driving success across various aspects of the business, from working capital management to operational efficiency and, most importantly, growth.
“We are particularly proud to see the strong management team thriving and positioning the company for further expansion, aligning with Footasylum’s strategy: transforming into a disruptive entertainment company and leading brand incubator.”
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