Space NK has posted strong results for the financial year ending in March with sales and profits soaring.
Pre-tax profit rocketed from £1.5m to £7.5m while turnover jumped more than a third (34%) to £196.5m year-on-year.
The premium beauty retailer’s growth has continued into the current financial year, with half-year sales up 38% year-on-year.
Shop sales jumped by 24%, while online sales rose 35% in the six months to September 2024.
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Space NK said the growth has been fuelled by a surge in its customer base, with double-digit growth across all age categories, from Gen Z through to millennials and Gen Alpha.
Its fastest-growing demographic is the under-25s, with a 164% increase.
Chief executive Andy Lightfoot said: “We are delighted to report another record-breaking half of sales up 38% on last year, continuing our run of greater than 30% growth every year since 2020.
“Since then, the business has more than doubled its revenue and with our customer first mindset and expertly curated brands, we are delighted with our consistent and continuous growth”.
The results come as Space NK prepares to open the doors to its Milton Keynes store at centre:mk shopping centre at the end of this month.
The 1,721 sq ft store will house a range of makeup and skincare products from brands including Tatcha, Drunk Elephant, Rare Beauty, and Hourglass.
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