Fred Perry sales and profits up with strong global growth
Fred Perry has recorded a 3% increase in sales to £122.2m for the year to 31 March 2019, with particularly strong growth in global markets.
Sales growth in the UK and EU was up by 6%, which was in line with the prior year's growth, but sales in the rest of the world were up by 13%, the latest accounts at Companies House show.
A change in the sales mix and positive currency hedging led to an improvement in gross margin from 50.4% to 54.1%. Pre-tax profit was £28.3m compared to £21.3m in the prior year.
In its accounts the company said it would continue its expansion plans by improving the quality and depth of the products it offers across menswear, womenswear, kidswear, footwear and accessories.
It also said it would continue to control its distribution channels and commit to marketing programmes to build and enhance its brand values.
Last year Fred Perry played on its heritage in youth culture and counter culture with a new store in North London's Camden High Street. The two-storey store opened in October and pays homage to the area and the brand's close links with the music scene.
