// Seasalt posts sales and profits boost for the full year to January 29, 2022
// Chief executive Paul Hayes hailed the “outstanding performance” and highlighted ongoing opportunity for growth Seasalt sees in the online market
Seasalt full-year sales and profits have spiked as it celebrated the “outstanding” performance both online and in-store.
The retailer posted a 39% increase in pre-tax profit to £6.5m in the year to January 29, 2022.
Sales soared 38% to £96.4m, up from £69.7m, helped by online sales via third-party marketplaces and its own website.
Store sales were also up 8.2% year on year.
The retailer has not opened any new stores during the year and shuttered four stores during the period, as it “continues to monitor store performance very closely”.
Seasalt said the stellar results were down to its great service, managing its supply chain fairly and creating distinctive retail stores.
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Seasalt chief executive Paul Hayes said: “Our stores across the UK and Ireland are in the best possible locations to serve our customers and this has contributed to their outstanding performance.”
The retailer posted a 24% rise in store sales over the key Christmas period, but warned that online sales will continue suffering from wider economic uncertainty.
Seasalt is now more optimistic about ecommerce, exploring multiple growth opportunities.
Seasalt noted that 27% of online orders were fulfilled from stores during the period, helping to boost full-price sales and allowing the retailer to “trade stock efficiently”.
“We’re really proud of the business performance overall, particularly in a challenging economic environment – online continues to provide ongoing opportunity for growth, together with the development of successful third-party relationships and a healthy future in expanding our international and domestic markets,” Hayes added.
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