Charles Tyrwhitt sales jump 45% to £269.2m in FY23

Charles Tyrwhitt’s sales jumped 45% to £269.2m during the 52-week period ended 29 July 2023. 

The retailer said that the majority of the company’s turnover is due to its digital channel.49% of turnover was derived in the UK while the remaining 51% from its operations in the USA, Australia and Germany. 

Underlying profits for the group reached £44.1m compared to £16.6m reported the previous year. 

During the year, the company opened five new stores in the UK – four of these in mall locations and one further store adding to the retailer’s high street presence in London. 

The company said: “Our global markets have benefitted from a generally helpful economic backdrop through the year. However, we remain vigilant to the economic circumstances unique to each market and the macro-economic trends within them. 

“Despite these headwinds, management remains confident that the current strong trading performance should continue. Our confidence in delivering continued strong performance comes from our powerful brand position and customer service, our compelling online proposition, and our adaptable product range.”