Lingerie and sex toy retailer Ann Summers has enjoyed a successful year of rising revenues and profits despite “acknowledging” that the economic environment was “challenging”.
In the full year ending June 24, revenues at the British retailer rose 7.4 per cent to £109 million, while gross profits rose 3.4 per cent to £69.8 million.
Operating profits were the standout figure, soaring 180 per cent to £2.97 million, marking the third consecutive year of growth for the retailer.
Sales were reportedly boosted by the retailer’s Party Plan business, which enjoyed invigorated popularity following ITV’s Brief Encounters programme documenting private selling parties.
“With consumers facing the reality of having less money in their pockets it is more important than ever that we are focused on our customers,” chief executive Jacqueline Gold said.
“At Ann Summers we put the customer at the heart of our decision making, and as a result we continue to buck the retail trend in all our channels delivering growth.
“We may face challenging times, but I continue to be excited for the future success of our business.”