// In The Style profits affected by supply chain issues
// An increased return rate “in part” reflected sales growth of the group’s “more inclusive size ranges”
// Revenue jumped 38.8% to £29.8m for the six months ended 30 September
In The Style has reported that profits have been affected by the ongoing supply chain issues.
The womenswear retailer reported a drop in profit before tax, standing at £0.9 million, in interim results for the six months ended 30 September.
This is down on the £1.8m posted for the same period a year ago.
READ MORE: In The Style names former Very Group exec Sam Perkins as new boss
An increased return rate “in part” reflected sales growth of the group’s “more inclusive size ranges”.
This was “being addressed through increased investment in product and garment technology and fitting.”
Revenue jumped 38.8% to £29.8 million, up on £21.5 million compared to a year ago.
In comparison to pre-pandemic comparatives, it logged a 245.5% leap in revenue from 2019, with shoppers turning online during Covid.
It posted that EBITDA decreased to £1.2 million, down on £2.5 million a year ago.
Despite supply chain disruption expected to continue into the second half by the group, In The Style said its board was still “very confident” in achieving its growth plans.
“While the global supply chain and freight disruption that has impacted across the industry is expected to persist for at least the remainder of the year, we are pleased to report that the strong sales performance achieved during the first half has continued through Black Friday and into the festive trading period so far,” In The Style chief executive and founder, Adam Frisby said.
“With this momentum, coupled with recent investment into our scaled-up operational and senior management teams, we look forward to continuing In The Style’s exciting growth and achieving our long-term vision for the brand.”
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