Seasalt expects annual sales to hit £100m as Christmas sales soar

Seasalt expects total sales in the year ending 29 January 2022 to approach £100 million
// Seasalt sales rise during the festive period
// Total sales across online, stores and through marketplace partners increased by 20%

Seasalt has announced that its total sales have jumped 20% in the five weeks to 1 January 2022.

Total sales, which includes revenues from store, ecommerce and marketplace partners, are up 33% against the same period in 2019, pre-pandemic.

Seasalt’s stores are mainly based in market towns and seaside resorts, which did not see the drop off in footfall experienced in some city centre locations in the second half of December.

READ MORE: Seasalt expects sales to smash £100m

Overall store revenues were up 81% on the same period last year and up 23% on the same period in 2019.

Given the disruption caused by partial lockdowns in 2020, it is the comparative against the pre-Covid 2019 period that demonstrates the resilience of the business.

Online sales remained strong throughout the Christmas trading period, with digital sales representing the majority of revenues.

Seasalt expects total sales in the year ending 29 January 2022 to approach £100 million, with an EBITDA margin of up to 12%.

In the years ahead, Seasalt will grow its customer community in the UK through innovative marketing and continued excellence in product development. The brand will also increase its international footprint and develop its menswear range.

Seasalt is looking to accelerate its expansion through new partnerships and access to external capital.

PwC has been appointed to advise the board on its strategic options. This next step in the brand’s evolution will support ambitious expansion plans, particularly in select high-growth international markets.

“The strong store performance over Christmas is a continuation of the theme we have seen since they reopened in April,” Seasalt Chief Financial Officer, Malcolm Macdonald said.

“We are very happy with the balance the business now enjoys from its complimentary mix of a strong store portfolio and marketplace partners supporting the direct-to-consumer online retail channel, which represents 56% of total sales.

“We now look forward to our exciting plans to grow the business further over the next few years by acquiring more UK customers, expanding internationally and developing our menswear range.”

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


Please enter your comment!
Please enter your name here