Crew Clothing Co. is pleased to announce a further positive set of results for the full year to October 2012, with continued strong sales and profit growth.
Highlights are as follows:
•Top line sales growth of +19% to £49m (2011: £41m)
•EBITDA growth of +8% to £5.4m (2011: £5.0m)
•Positive retail LFL
•11 new stores opened
•Online sales growth of +20%
Managing Director, Octavia Morley commented:
“We are pleased with the positive performance delivered despite the extremely challenging trading environment.We has continued to invest in our product whilst financing core areas of the business. Our key focus continues to be the customer shopping experience. The launch of Click & Collect in the year has been a huge success, underlying the importance of being a truly multichannel business.”
Chairman, Clive Beharrell commented:
“We have delivered a solid performance against the backdrop of the current retail sector. Not only have we generated very strong sales growth demonstrating the resilience of our brand position, costs have been well managed in order to deliver EBITDA growth of 8%. The business has also been successfully refinanced in the year ensuring we are well funded for the Company’s future growth plans, including significant investment in infrastructure.”
Along with the successful results Crew Clothing Co. have announced the appointment of specialist logistics provider Torque who will be processing goods for 71 Crew Clothing Co. stores nationwide, with daily deliveries being made to each Crew Store.