Lingerie retailer Boux Avenue made “significant progress” following its strategic review in 2019 and reduced its losses on the back of 9.1% sales growth.
Total sales at the lingerie retailer increased by 9.1% in the year to 31 March 2021, compared with the same period in 2019. Underlying EBITDA losses reduced to £3.5m, from the previously reported loss of £14.9m – an underlying improvement of £11.4m.
It said performance was boosted by 129.7% growth in online sales and had seen its performance “further improve” during the current year.
Boux Avenue which has 29 stores across the UK reported a 50.6% rise in sales in the six weeks to 24 December, compared to the equivalent period in 2019.
Total group sales were up 15.6 percent in the six weeks to December 24, against the same period in 2019, which it states is the only meaningful measure, given the lockdown impact to trade in 2020. This growth was attributed to strong performance across all brands in e-commerce, which increased by 87.5 percent compared with 2019, while store sales dropped by 6.3 percent.
