Cost of living crisis fails to dent results at retailer
Fashion and homes retailer, Joe Browns the fashion and homes retailer, is celebrating its strongest year to date as it publishes its full year results to 30 June 2022.
Despite the backdrop of external economic pressures, the business reported turnover of £47.3m, up 20.9% from £39.1m in 2021 and profits of £4.2m, up 7.8% from £3.9m the previous year.
During the year Joe Browns also appointed a CEO, Peter Alecock, a first for the company.
In addition, the business has recently confirmed it would begin searching for sites for 10 stores across the UK. It says initial discussions are progressing well.
A separate franchise store, another first for the retailer, will open in Bowness-on-Windemere, Cumbria in late spring this year.
The company’s £2m warehouse upgrade – first announced in January 2023 – has now started, with work due to be complete by July.
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 product has always been central to our business and this ethos has never been more important than today.”
