Seasalt’s Christmas results give high street new hope
Cornish fashion brand Seasalt has proved that high street stores are not dead yet, posting a strong 9% increase in like-for-like sales during the Christmas trading period.
The clothing and lifestyle brand, which opened two stores in December, said in-store sales grew 31% in the five weeks ended 5 January 2019. This, coupled with a 39% uplift in online sales, helped it record an impressive 35% increase in retail sales on the previous year.
Seasalt said it was a “record” year for Christmas trading, aided by strong demand for full-price products. This resulted in scheduled discounting being delayed until just before Christmas, helping it protect its margins.
The business also performed well outside the UK, with international sales up 35%.
“Thanks to more Seasalt customers shopping online and in-store, we have had another fantastic festive season. Our online offer continues to grow impressively, but I’m especially pleased with our 9% like-for-like sales growth in our stores, which is the third year in a row we have had positive like-for-like growth in this period,” commented Seasalt CEO Paul Hayes.
“Too many people write-off bricks and mortar. It’s great to see some of our most loyal customers make use of both our shops and online experiences. We still see plenty of appetite for our approach to upholding the values of good shop keeping. We maintain focus on having the right product combined with excellent quality at a fair price, accompanied by friendly and knowledgeable service. The belief in our good shop keeping values, and ensuring we provide an environment for our products that connects people to our Cornish roots, is at the heart of our success to date.”
At a time when most retailers are looking to trim their store estates, Seasalt has grown to nearly 60 stores in the UK and has plans to open a further 40 over the next five years.
A £16m investment from BGF and Santander Corporate & Commercial is facilitating the expansion, which will create an estimated 700 new jobs.
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