11 Jan 2018 07:00
11 January 2018
Footasylum plc
("Footasylum" or the "Company")
Trading Update
Footasylum, a UK-based fashion retailer focusing on the branded footwear and apparel markets, announces a trading update for the 18 weeks ended 30 December 2017 (the "Period").
Revenue
Footasylum has continued the strong growth experienced over the first half of its current financial year, with total revenues for the Period of £89.8m, an increase of 33.4 per cent. compared to the corresponding period in the prior year.
All three sales channels (i.e. stores, eCommerce and wholesale) experienced year on year revenue growth in the Period, with eCommerce accounting for a higher proportion of total revenue than in the comparable period in the prior year.
18 weeks to 30 December
| 2017 | 2016 | Revenue Growth | |
| £m | £m | £m | % |
Total Revenue | 89.8 | 67.3 | 22.5 | 33.4 |
44 weeks to 30 December
| 2017 | 2016 | Revenue Growth | |
| £m | £m | £m | % |
Total Revenue | 173.0 | 128.4 | 44.6 | 34.7 |
Store estate
Footasylum opened six new stores during the Period, meaning that as at 30 December 2017 the Company operated 65 stores in the UK, 63 of which were the core Footasylum fascia.
Current trading
Trading continues to be in line with the Board's expectations.
The Board expects to announce the Company's preliminary results for the year ending 24 February 2018 in mid-June 2018.
This announcement contains inside information for the purposes of the Market Abuse Regulation.
Enquiries:
Footasylum plc Tel: +44 (0) 1706 714 265
Clare Nesbitt, CEO
Danielle Davies, CFO
GCA Altium Limited (Financial and Nominated Advisor) Tel: + 44 (0) 20 7484 4040
Phil Adams
Sam Fuller
Liberum Capital Limited (Broker) Tel: +44 (0) 20 3100 2222
John Fishley
Jill Li
Powerscourt (Financial Public Relations) Tel: + 44 (0) 20 7250 1446
Rob Greening
Lisa Kavanagh
Isabelle Saber
Customer website: https://www.footasylum.com/
Investor website: http://investors.footasylum.com/
Notes to Editors:
Footasylum is a UK-based fashion retailer focusing on the branded footwear and apparel markets. The Company retails "on-trend" product ranges which are predominantly aimed at 16 to 24 year old fashion-conscious customers and are sourced from an extensive stable of third party and own brands. These include well-known sports and casual footwear and apparel brands, as well as up-and-coming brands and own label products.
Examples of third party brands include: adidas; Nike; The North Face; Gym King; Converse; New Balance; EA7; Vans; Nicce London; Siksilk; Under Armour; and Calvin Klein. Examples of Footasylum's own brands include: Kings Will Dream; Glorious Gangsta; Condemned Nation; and Alessandro Zavetti.
The Company operates a multi-channel model which combines a 65-strong store estate - in a variety of high street, mall and retail park locations in cities and towns throughout Great Britain - with a fast-growing eCommerce platform and a recently launched wholesale arm for distributing its own brand ranges via a network of partners. In FY17, the store estate accounted for 71 per cent. of revenue and eCommerce accounted for 29 per cent.
Footasylum was founded in 2005 and the Company's ordinary shares were admitted to trading on AIM in November 2017.