Mamas & Papas profits and sales soared across the golden quarter as the brand said it was on course for a record year.
The nursery brand’s EBITDA rocketed 50% year-on-year during the 13 weeks to 31 December as sales rose 17%.
The performance followed a record Black Friday, which saw year-on-year sales increase 18% over the three-week period.
The retailer said the Black Friday boost provided “significant trading momentum heading into the crucial Christmas period” with both its digital business and stores setting new records in the season’s key trading week.
Mamas & Papas’ growing network of stores and concessions in the UK delivered better than expected sales, while its online business grew 20% over the period.
Its UK retail estate now includes 34 shop-in-shop concessions with partners Next, Marks & Spencer and Arnotts in Ireland, with more locations set to open in 2024.
It has also launched the concept with other retailers in its target overseas markets.
Mamas & Papas said it now expects to deliver record-breaking sales and full year profits in the current year ending March 2024.
During its last financial year ended 27 March 2023, the group’s full-year sales hit £144m and EBITDA reached £10.9m.
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Mamas & Papas CEO Nathan Williams said: “Last year, despite a challenging inflationary environment, we backed our strategy and continued to invest in the brand and the business for both long-term sales and profit growth.
“That approach is bearing fruit in the current year, with an excellent performance from our revamped digital business and expanded store estate.”
He added: “We’re looking forward to building on the momentum we’re currently seeing into the next year, expanding our presence both in the UK and overseas as the category leader in nursery and baby products and a purpose-led platform which champions parents and the planet.”
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