// Mamas & Papas profits rise after expansion of its UK retail space
// It opened 10 new concessions under its strategic partnership with fashion retailer Next
Mamas & Papas has said the continued expansion of its UK retail space is driving strong sales growth despite a challenging environment.
In its financial year to 27 March 2022, sales increased by 35% to £126 million, while EBITDA increased to £11 million and pre-tax profits rose to £6.8 million.
Half year sales increased 17% in the six months to 30 September, 2022.
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It opened 10 new concessions under its strategic partnership with fashion retailer Next during the period, with a further three to follow in the second half alongside three new concessions with Marks & Spencer.
The retailer said it is expanding its range of travel systems, nursery furniture and children’s clothing, with an increased focus on entry-level price points.
Mamas & Papas CEO, Mark Saunders said: “Whilst there are undoubtedly challenges from the continuing cost of living crisis and emerging economic downturn, the nursery products market has always proven its resilience due to being far less discretionary than other non-food retail sectors.
“Combined with our momentum in the market and the loyalty of our customers, this is giving us confidence to continue investing in our growth strategy, including our strategic partnerships with Next and Marks & Spencer, as well as investing in our communities and colleagues through our ESG agenda.
“Whether it’s through our website or in-store, our goal is to become the most accessible nursery brand with an unrivalled commitment to our customers.”
