Seasalt hails ‘outstanding’ full year as sales and profits boom

Seasalt posted profit before tax of £6.5m, up from £2.4m the previous year, which it attributed to its investment in online, technology and data analytics.

The fashion retailer also posted a 38% increase in turnover to £96.4m up from £69.7m in the previous year, which it credited to the success of its strategy including its online third-party marketplace partnerships and direct sales through its own website.

Seasalt said that “the recovery in store revenue was combined with continued growth of the online business” and was up 8.2% year on year.

The fashion retailer said 27% of online orders were fulfilled from stores during the period, which assisted full-price sales as well as the clearance of end-of-season stock as it enabled the retailer to “trade stock efficiently”.

Seasalt said that no new stores were opened during the year and four stores were closed, as the retailer “continues to monitor store performance very closely”.

Seasalt called the results “outstanding” in a statement and credited its full-year performance to the “success of the strategy”, which focused on a range of focus points including providing a great service, managing its supply chain fairly and creating distinctive retail stores.

Seasalt chief executive Paul Hayes said: “Our stores across the UK and Ireland are in the best possible locations to serve our customers and this has contributed to their outstanding performance.

“Sharing our love of Cornwall, and the environment that surrounds and inspires us, has allowed us to develop superb engagement with our customer community. We know that exceptional in-store service and the strength of our product offering and brand ethos are fundamental to winning and retaining the loyalty of customers across channels.

“Our dedication to the best possible experience is a constant focus for us so our audience returns time and time again, however they choose to shop with us.

“We’re really proud of the business performance overall, particularly in a challenging economic environment – online continues to provide ongoing opportunity for growth, together with the development of successful third-party relationships and a healthy future in expanding our international and domestic markets.”