Fashion retailer AllSaints has delivered another record profit performance for the year ended 1 February 2025, with EBITDA up 1% to £69.5m, despite a challenging macroeconomic backdrop and a 4% dip in total revenue.

The London-based business – which also owns the New York menswear label John Varvatos – said the results reflected its strategy to reduce markdowns and improve the quality of sales.

Group revenue totalled £441.3m, down from £459.5m the previous year, with gross margin improving to 65.2% from 63.0%.

AllSaints’ revenue fell 5% to £372.4m, while John Varvatos grew 4% to £68.9m, delivering its best-ever profit performance since being acquired in 2021. Profit before tax jumped 55% to £28.2m, while profit after tax almost doubled to £18.9m.

The group said its stronger margins were driven by shorter markdown periods, earlier seasonal launches, and tighter inventory management. AllSaints also extended its £55m revolving credit facility with Wells Fargo Capital Finance to September 2030, securing long-term financial flexibility.

Over the year, AllSaints launched several new product lines, including smAIISaints childrenswear, a new fragrance range, and men’s tailoring, underwear, and optical eyewear collections.

The retailer also opened a new third-party European distribution centre in the Netherlands, which it said had supported “strong growth” with both new and existing wholesale and concession partners.

CEO Peter Wood said the results reflected the group’s “disciplined focus on brand elevation and profitability.”

“Huge credit is due to our teams around the world who have worked so hard to deliver a new record profit performance.”

Store investment continued, with the first AllSaints new concept store opening in Manchester’s Trafford Centre, alongside new locations at London Bridge station, Glasgow, New York’s Belmont Park Village, and Metzingen, Germany. John Varvatos also opened a new store in Belmont Park Village.

At John Varvatos, Karl Åberg was appointed Creative Director, debuting his first collection at New York Fashion Week in September 2024, marking the brand’s high-profile return to the event.

Since the year-end, AllSaints has appointed London designer Aaron Esh as chief creative officer, effective 3 November 2025, signalling a renewed focus on design and brand creativity. The retailer also promoted Alex Didymiotis to chief people officer and Alfie Meekings to chief transformation and technology officer.

The group has continued to expand globally, with new store openings in Shenzhen, Atlanta, London St Pancras, and Bristol Cribbs Causeway (main image above), and plans for further sites in Stratford and Battersea Power Station.

John Varvatos also opened a new flagship in SoHo, New York, as part of its 25th anniversary celebrations.

Wood added: “While our Group revenue reflects our decision to reduce markdown activity to improve the quality of our sales, we’re pleased that a number of areas across the business continued to deliver strong top-line growth.”

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