Gymshark revenue up 54 percent as profits widen
Gymshark Group has reported a 54 percent increase in revenue in the year to July 31 2021.
The sportswear giant made net revenue of 401.9 million pounds, up from 260.7 million pounds a year earlier, according to filings at Companies House.
The Solihull-based group’s profit before tax increased to 45.4 million pounds from 30.4 million pounds a year earlier.
The group said its number of orders increased by 53 percent in the year. International sales were up 47 percent in the year to July.
Never Miss a Retail Update!As part of its ongoing international expansion, Gymshark confirmed plans to cut 120 jobs before July as part of a restructuring.
But the company said more than 100 new jobs will be created.
The fast-growing brand is focusing on expanding in the US, which has recently become its biggest market.
