Joe Browns turnover rises 20.9% in strongest year to date
Gross profits for the company increase to £28.9m, £5m more than the previous year
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Fashion and homeware retailer Joe Browns has reported that turnover rose by 20.9% to £47.3m in the 12 months to June 2022, while profit rose by 7.8% to £4.2m, hailing the full-year results as its strongest to date.
Over the full-year period, homeware sales rose by 43.6% year-on-year, while menswear rose by 34.7% and womenswear rose by 18.4%.
Joe Browns stated that the increase in sales has to be attributed to additional marketing. Throughout the year the company invested £2.9m in marketing expenditure to recruit new customers and keep its clients engaged.
During the year Joe Browns appointed a CEO, Peter Alecock, a first for the company. In addition, in March it announced that it would be searching for sites for ten stores across the UK.
Regarding the full-year results, Alecock said: “We are really pleased with both sales and profits to the year ending June 22. It’s testament to the amazing team we have here at Joe Browns across every area of the business and I wanted to take the opportunity to thank everyone involved.
“We expect the external trading environment to remain challenging. As such creating stand-out, remarkable products has always been central to the Joe Browns’ business and this ethos has never been more important than today.”
