Ann Summers grows sales and profit following strong performance in-store
Ann Summers has seen its annual turnover climb by 4.5% to £104.6 million after it benefited from more customers shopping in-store post-pandemic.
In the 53 weeks to 1 July, gross profit was also up, increasing by 3% to £61.8 million.
During the year, Ann Summers opened four new stores, initiated a website re-design and invested in the development and evolution of its direct-selling business model. It also extended its ‘going out’ product range which includes dresses, skirts, leggings and bodies.
Stores, which are the retailer’s most profitable channel, delivered a sales uplift of 12% year-on-year.
Maria Hollins, Ann Summers chief executive, said: “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.”
The retailer is now planning further store openings, refits and relocations as it looks to grow its retail footprint in key locations.
Hollins added: “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.”
