Strong US sales boost AllSaints performance
AllSaints will post a 9% increase in sales this week on the back of strong international performance, in particular North America, and a solid performance in its home market of the UK.
According to The Times the British brand and retailer will posts sales of £252.5m for the year to 30 January, up 9%, while earnings have increased by 18% to £28.5m.
Sales in North America were up 9.1% to £83m while Asia put in a strong performance growing by 332% to £8.4m. Overall international sales were up 12% to £108.2m and now account for 43% of the company's business. In its home market of the UK, sales were up 7.4% to £144.3m. Online now accounts for 19% of all sales.
AllSaints is owned by Lion Capital, which acquired the business from previous owners Kevin Stanford and Icelandic investment fund Baugur. It is headed by CEO William Kim, a former Burberry executive. Lion Capital, which in the past has invested in brands such as Jimmy Choo and La Senza, is rumoured to be seeking a sale of the business having turned around its fortunes.
Image: Maya Hawke in AllSaints SS17 campaign