The Fragrance Shop has recorded a surge in sales and profits during the year as it continues its aggressive expansion plans.
Underlying group profitability rose 6.5% to £13.2m during the year ending March 31 as retail sales jumped 11%, while like-for-likes jumped 4%.
The Fragrance Shop opened 17 stores during the year, taking the Manchester-based retailer’s store estate to 170 outlets nationwide.
Chief executive officer Sanjay Vadera said: “We have another big year ahead of us with the launch of 1667, our first internally developed luxury fragrance range.
“We’ll continue to expand our retail estate with a further 20 stores due to open and we’ll unveil some game-changing digital developments.”
Vadera added last year’s results are testament to its “commitment” to improving the customer experience.
This has included the Fragrance Shop introducing a more extensive catalogue in-store to allow customers to buy an “old favourite” that has previously been delisted.
The retailer also launched a price match initiative across its store estate in November.
Luxury brands including Dior, Gucci and Loewe accounted for a “large proportion of sales” as the luxury market continues to perform well.
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