Ann Summers’ profit and sales rose in its full year results, which it said was “driven by consumers returning to the high street post-pandemic”.
Profit was up 3% to £61.8m for the year ended 1 July, compared to £60m the year before.
Sales at the lingerie and sex toy retailer also increased 4.5% to £104.6m, from just over £100m in 2022.
The business’s stores pulled in a 13% sales rise year-on-year, supported by the small expansion of its store portfolio, including new sites in Chelmsford, Croydon, Buchanan and Brent Cross.
Ann Summers also initiated a website redesign, launched four new shops, and invested in the development and evolution of its direct-selling business model during the financial year.
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Ann Summers CEO Maria Hollins 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.”
Going forward, the retailer is planning additional store openings, refits and relocations, as it aims to grow its retail footprint across key locations.
The results come after Ann Summers secured £8m in asset-based funding to help accelerate its growth plans in January.
The retail business secured the deal from asset-based lender Secure Trust Bank Commercial Finance (STB CF).
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