Ann Summers returns to profitability after Knickerbox relaunch

Ann Summers has reported a stabilised turnover of £93.4 million and a return to profit on an adjusted EBITDA basis, marking a significant turnaround for the lingerie retailer whilst facing "significant headwinds".

For the 52 weeks ending 28 June 2025, the retailer delivered an adjusted EBITDA profit of £100,000, compared with a £5.6 million loss the previous year. The company said this was driven by tighter cost management, store optimisations and strengthened shareholder support.

The company £93.4 million turnover for the year, compared to a £93 million turnover the year prior. Meanwhile, gross profit was up 0.5% to £58.5 million.

CEO Maria Hollins said the business demonstrated "resilience and strategic adaptation"  amid inflationary headwinds and the wider retail slowdown.

A key milestone for the group was the July 2024 launch of Knickerbox.com, reviving the heritage lingerie brand with a modern identity and a dedicated e-commerce platform. The move forms a cornerstone of Ann Summers' digital transformation strategy, aimed at broadening brand appeal and capturing growth among younger consumers.

The company said its web channel continued to perform well, serving both UK and international customers, while it maintained a substantial presence on the UK High Street with 75 stores (down from 80 last year).

During the period, Ann Summers also made the strategic decision to close Connect, its long-established direct-selling operation. The channel ceased trading in October 2025.

Maria Hollins, CEO of Ann Summers

Hollins said: "The financial year 2024-25 has been one of resilience and strategic adaptation for Ann Summers. Against a backdrop of persistent economic uncertainty, rising inflation, and the ongoing cost-of-living crisis, the retail sector has faced significant headwinds both in the UK and globally. Despite these challenges, our business has demonstrated agility and determination, focusing on operational efficiency, customer experience, and long-term sustainability.

"This progress was made possible through continued shareholder support, which has underpinned our liquidity and provided a strong foundation for future growth. We have continued to invest in our technology and sustainability. Our store upgrades have enhanced customer experience, while fleet reductions and energy efficiency schemes are delivering measurable environmental benefits.

"Looking ahead, our strategy remains focused on profitable growth, market-leading product innovation, and outstanding customer experience. We will continue to drive efficiencies, expand our reach, and invest in sustainable, ethical practices."