Space NK sales boosted by retail strength and wholesale growth
Upmarket beauty retailer Space NK enjoyed strong trading in the year to 25 March 2017, with turnover rising 11.4% to £96.4 million as a result of continued consumer interest in luxury skincare, beauty and fragrance.
A breakdown of its annual accounts revealed the London-based company made £79.6m in UK sales, while turnover from outside the United Kingdom reached £16.8m, up from £12.78m a year earlier. International sales, relating to an outlet in Ireland and wholesale sales internationally, now account for the brand’s 21.2% of total revenue, compared with 17.3% in FY2015/16.
EBITDA for the year was £8.2m, up from £7.7m a year earlier, but operating profit was hit by additional expenses and fell to £4.49m from £4.9m. This meant that profit for the financial year was £3.29m, compared to profit of £3.72 in the prior year.
During the year, the company invested £50,907 in the development of its skincare, bath and body products, known for their innovative formulas.
Space NK also stocks products from over 70 brands including Eve Lom, Laura Mercier, Nars, Aesop, Byredo, Cowshed and La Mer.
The company has 60 stores in the UK and Ireland, as well as 29 in the US, including freestanding stores and boutiques at Bloomingdale’s and Nordstrom.
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