Revenue and profits rise at Joe Browns in 2017

By

Barbara Santamaria

Published
Apr 11, 2018

Yorkshire fashion retailer Joe Browns has revealed a 16.7% increase in revenue for the year ended 30 June, before it opened its first ever physical store at Meadowhall in November.

The company said in official documents that revenue increased to £32.8 million from £28.1 million, with sales in mail order increasing by £4.1 million, and £0.6 million in wholesale.

The sales growth, coupled with a small improvement in margin from 57.8% to 58.5%, helped the business improve gross profit to £19.2 million - £3 million more than in the prior year.

“The fact that margin improved during the year is particularly encouraging given the fall in value of sterling at the beginning of the financial year,” said the company, which has been operating since 1998. A strategy to secure new customers and keep existing ones resulted in an £1.7 million investment in marketing activities.

Simon Brown, founder and managing director, told Insider Media: "We are happy with the results but still have a long way to go. Continual investment in people and infrastructure will enable the product and brand to develop and the customers to grow.

"It is still such an enjoyable and energising business to be working in and some of the opportunities presenting themselves are very exciting."

Joe Browns opened its first location in Sheffield within Meadowhall shopping centre in November. The 4,000 sq ft store stocks a range of clothes and accessories for men and women.