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Seasalt predicts £100 million revenue after online sales increased above expectations

Camilla Rydzek
14 December 2021

UK fashion brand Seasalt is predicting revenue to reach £100 million for the financial year ending 29 January 2022, after its online sales increased above expectations. 

Online sales increased by 72% in the year ended 30 January, 2021, compared with the year ended 1 February, 2020 and made up 67% of the brand's total revenue during the same time period. 

A 57% loss of sales was caused by the temporary shop closures during lockdowns in 2020 and 2021, but since reopening stores have recovered more quickly than expected, the company said.

Total sales in the year that ended 30 January, 2021 decreased by 7% compared to the previous year to £69.9 million, however, profits increased during the same time period with earnings before interest, tax, depreciation and amortisation (EBITDA) growing by 50% year-on-year to £6.6m.

The brand also said that it had invested £2.5 million in its digital transformation programme which includes new UK and international websites and a software programme that allows online orders to be fulfilled in stores.

Seasalt CEO Paul Hayes, said: “We have seen the benefits of our digital transformation and can now genuinely call ourselves a digital-first brand. The excellent performance of our stores since they re-opened and growth with our strategic partners point to a bright future and demonstrate the resilience of the business. As we move towards Christmas, it is an exciting time for Seasalt as we continue to experience record levels of engagement with our customers and look forward to building further momentum through the rest of the year.”

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