MandM Direct’s full year profits to rise by 20% after successful Christmas
Online fashion retailer, MandM Direct has said that it is on course to achieve record-breaking revenues for the year ending February 2014, after a successful Christmas campaign helped its profits to rise by around 20%.
The retailer said its Christmas trading season peaked with a 55% rise in revenue for the week ending 22 December 2013. Top selling categories included sportswear, which saw record growth of 15%, and men’s and women’s footwear.
Jonathon Brown, chief executive of MandM Direct, said: “We’re pleased that in a competitive Christmas market we were able to deliver a successful campaign and provide consistently good value for our customers. We are confident that our results will reflect this success and look forward to trading in 2014.”
MandM Direct now expects to deliver growth in export revenues of 55%, its highest-ever annual revenue of circa £120 million and an increase in EBITDA of around 20%.
