Beauty e-commerce worship Beauty submitted results year round for the 12 months through May 31, 2020 and has experienced what has been called “another great year” despite the impact of the pandemic for more than two months. Is shown.
In a report filed with Companies House, the company says sales rose 37.8% to £ 123.4million, growing across all markets and categories. The UK market recorded the highest growth with an increase of 50.4% and remained the largest single market, accounting for 47% of total sales, up from 43% the previous year.
Despite the strongest growth in skin and hair care, makeup is “a dominant position in sales, despite widespread reports that makeup is a difficult category to change during the blockade.” Has been maintained. ”
The company also launched its first international domain by adding the .com website to the existing offerings on the .co.uk site as part of its continued international expansion. Its international expansion includes products listed in euros for the first time. Locally optimized cult beauty offerings are now available in Ireland, Germany, Spain, the Netherlands, Italy, France, Poland, Slovakia, Slovenia, Cyprus and Malta.
As mentioned earlier, the pandemic does not appear to be squeezing the business, with “strong deals” in the first UK blockade that began last March, with sales and new customers “significantly”. They say it has increased.
However, despite the significant increase in sales, the gross profit margin slightly decreased from 27.7% to 27.5%. Considering the difficult times of the year, this is a good result, with higher profit margins from a combination of brands and categories, although the higher costs of service in the international market offset some of the costs. profits. I was helped by the sales.
However, the company was able to achieve a significantly higher operating profit of £ 6.4million, compared to £ 2.5million the previous year. Net profit ranged from £ 2.5million to around £ 5million, with ‘strong cash flow and efficient working capital management’ resulting in a final cash balance of £ 22.3million on a “solid” balance sheet. They say yes.
According to the company, the annual sales growth has exceeded the five-year plan, and further growth is expected on an ongoing basis. In many ways, the pandemic helped generate a large influx of new customers that they likely wanted to keep, even if the physical store reopened. To help with this, the company’s marketing team said it was focusing on customer acquisition and retention “by combining tactical and engaging promotional activities.” As a result, we anticipate a record year of sales and profits in 2021.
Copyright © 2021FashionNetwork.com All rights reserved.
Source link Cult Beauty sales increase with the acquisition of new customers in the UK and Europe