Hotter posts rise in Black Friday sales thanks to high product demand

Hotter
The footwear retailer hailed a particularly strong Black Friday period
// Hotter records strong trading for the half year ending July
// Hotter said it effectively navigated the current supply chain disruptions
// It attributed growth to its £2m investment in its direct-to-consumer digitalisation

Hotter has reported strong trading in light of market-wide supply chain issues as it accelerated its customer database.

The footwear retailer hailed a particularly strong Black Friday period, with sales up 10 per cent on last year.

For the half year ending July, the company’s EBITDA was at £2.5 million, generated from revenue of £25 million.


READ MORE: Hotter Shoes opens its first ever pop-up store


Hotter chief executive Ian Watson praised “strong and extremely pleasing” trading, as a result of high product demand, direct-to-consumer driven revenue growth, gross margin expansion and a rapidly accelerating customer database of over one million.

Hotter said it effectively navigated the current supply chain disruptions, with its Lancashire-based manufacturing facility providing “advantageous resilience” including its ability to allow backorder reserves for future fulfillment.

The reopening of its supplier factories following lockdowns in Asia have also allowed product availability to begin recovery.

Its ecommerce channel now accounts for 65 per cent of total sales.

Hotter attributed its growth to its £2 million investment in its direct-to-consumer digitalisation including the launch of its augmented reality smartphone app aiding product choice and accessibility, the integration of it’s unique Footprint scanner, and its move for experiential-led retail environments.

“We are pleased with the steady progress of Electra’s transition to Unbound and our own momentum as we focus on developing our curated, digital platform and building a network of targeted brand partners,” Watson said.

“As we prepare for our launch early next year, we are confident that we will hit the ground running, given Unbound will be underpinned initially by the strength of the Hotter brand, which continues to trade well despite current headwinds, with trading over the Black Friday period up 10 per cent from last year.”

Click here to sign up to Retail Gazette‘s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here