// Hush revenues and profits rise in the year to 27 March
// Hush saw an ecommerce growth of 43% thanks to continued strong momentum
// The retailer’s customer database increased by 25%
Hush has recorded rising revenues and profits in a year of “significant strategic progress”.
The womenswear retailer saw revenue for the year ended 27 March increase by 23% to £58 million despite store closures during lockdowns.
Hush also saw an ecommerce growth of 43% thanks to continued strong momentum both through its website and third-party websites.
Ecommerce sales represented 95% of total sales during the period.
Meanwhile, operating profit increased by 169% to £11.4 million.
The retailer’s customer database increased by 25% after new customer acquisition trends.
The number of new customers introduced to the business was up by 54%.
In March 2020, Hush received the first external investment in the company’s 18-year history from True Global, Europe’s only retail and consumer sector private equity specialist.
To support Hush’s long-term growth ambitions, the company appointed retail industry leader Susanne Given as its first ever non-executive chair in November 2020.
The business made continued investment in its senior leadership team, with a number of appointments including a new chief financial officer, chief technology officer and chief marketing officer.
“We’re delighted to report a record financial performance in the year to March 2021, with strong sales and profit growth despite the impact of Covid-19 on some of our sales channels,” Hush chief executive, Kate Bartman said.
“Our business has more than trebled in size over the past four years which is a testament to the strength of our brand, our high-quality products and excellent customer engagement.
“With this strong momentum, as well as the exciting investments we have made in our people and business, we are very excited about our long-term growth plans.
“We’re pleased to say that our momentum has continued into the current year against a challenging retail backdrop, and with our growing and loyal customer base, exciting new collections, and the strong performance of our bricks and mortar retail channels to complement our rapidly growing digital sales, we are very well positioned as we enter the Christmas trading period.
“Above all else, the brand’s continued success is down to our people. We have retained and recruited exceptionally talented people and continued to promote our strong ‘one team’ culture while navigating the novelties of hybrid home and office working.”
Click here to sign up to Retail Gazette’s free daily email newsletter
