Ann Summers hit over £100m turnover as it revealed plans to open more stores across the UK.
According to Companies House, the lingerie and sex toy retailer is set to open four or five more stores next year as retail sales rose 7.6% in the year ending June 2022 and 5.4% above pre-pandemic levels.
Gross profit also reached £60m, up from £50.9m the prior year as its balance sheet was bolstered by expanding its underwear lines and launching its first customer loyalty scheme last year.
The group added that its operating profit for the year was down to £1.2m compared to £3.5m the prior year, attributing Covid-19 disruptions for the drop.
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“2022 was a year of two halves for Ann Summers. We started the year strongly and optimistic that after the disruption the pandemic had caused in recent years, this would be the year that we saw a return to normality,” the company said.
“With stores open and footfall gradually returning to the highstreet, it felt like this would be the case.”
It added that profitability was hindered by challenges in its supply chain due in part to rising freight prices.
“This was further exacerbated by the Ukraine/Russia conflict which has resulted in cost increases across key operational areas of the business,” it said.
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