AllSaints posts record profit despite revenue dip
British retailer AllSaints, renowned for its grunge aesthetic and leather jackets, has delivered another record year of profits despite a drop in revenue, as the East London-based brand continues its turnaround efforts.
For the year ended 1 February 2025, the group’s EBITDA rose 1% to £69.5 million, marking a new record for the business. Profit before tax surged 55% to £28.2 million, while profit after tax almost doubled to £18.9 million, up 93% year-on-year.
Group revenue declined 4% to £441.3 million, reflecting the company’s decision to reduce markdown and promotional activity to improve the quality of sales. The core AllSaints brand saw revenues fall 5% to £372.4 million, while John Varvatos, which the group acquired in 2021, grew 4% to £68.9 million, achieving its best-ever profit performance.
Gross margin improved to 65.2%, up from 63% a year earlier, supported by shorter markdown periods, earlier seasonal launches and strong inventory management.
Operationally, AllSaints launched several new categories. These included smAIISaints childrenswear, men’s tailoring and underwear, fragrance and eyewear. The brand also opened new stores across the UK, Europe and the US.
Peter Wood, CEO of AllSaints, said: "Huge credit is due to our teams around the world who have worked so hard to deliver a new record profit performance. While our Group revenue reflects our decision to reduce markdown activity to improve the quality of our sales, we’re pleased that a number of areas across the business continued to deliver strong top-line growth.
"There remain plenty of exciting growth opportunities for both AllSaints and John Varvatos, and we are well-placed to pursue them with confidence."
Post year-end, AllSaints appointed Aaron Esh as its new Chief Creative Officer, in a move that feels almost inevitable given the designer’s East London edge.
Effective 3 November 2025, Esh will oversee AllSaints’ creative direction across menswear, womenswear, campaigns and digital storytelling, reporting to CEO Peter Wood from the brand’s East London studios.
