All Saints halved its pre-tax losses from £35m to £18.2m in its year to February 2 as its turnaround strategy bears fruit.

Sales jumped 11.2% to £219m at the fashion retailer while EBITDA surged from just over £2m last year to £17.2m.

Chief executive William Kim, who joined All Saints two years ago, told The Times he has undertaken a “painstaking” analysis of the business  and has closed stores and streamlined distribution.

Its supplier base has fallen from 400 to 55 and its website has been overhauled.

Kim was brought in a year after private equity firm Lion Capital bought a majority stake in All Saints in 2011, securing its future.

Over 30% of All Saints sales came from the US over the year and the retailer is plotting further expansion in Europe, Hawaii and the Middle East.

Kim said there was also an opportunity to diversify All Saints product categories and said it would also mull selling wholesale.

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