Year of growth for menswear retailer End as revenues and profits surge
today Sep 26, 2019
Newcastle-headquartered Ashworth and Parker has hailed the progress of its End menswear destination End in its latest financial results.
The contemporary menswear retailer, which sells a mix of luxury and cult labels such as Saint Laurent, Off-White and Gucci has reported a 33% increase in revenue to £134.7 million in the year ended 31 March 2019.
It comes after “another strong period of growth”, with the brand opening its largest retail space yet - a flagship store at 59 Broadwick Street in the heart of Soho in London - in October.
The company, which also operates stores in Newcastle and Glasgow, delivered a strong operating margin at 20.0%, helping it boost pre-tax profits by almost 18% to £27.2 million.
There is a growing appetite for fashionable menswear, and End’s online store and bespoke iOS and Android apps can confirm this. The retailer said over 10 million people visit its website and apps each month, and more than 2.4 million people follow its social media accounts.
Revenues have been growing steadily at this independent retailer, rising at a CAGR (compound annual growth rate) of 50% between 2015 and 2019.
To support its growth, End. is opening a new distribution centre close to the A1 in Washington (south of Newcastle Upon Tyne), and the majority of its operations will transition there in late 2019.
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