Footasylum has released its annual results this morning, with operating profit up 123% (£23.3m)
The Lancashire-based brand said it was another year of record sales and profit, with its total revenue up 9.4% to £349.5m.
Revenue was driven by a 101% increase in wholesale sales and 4.3% growth in total retail sales across store and online. Store sales accounted for £172m (up 3%), while online increased 6% to £143.6m meaning it represented 41% of total sales.
Nick Scott, Footasylum’s Chief Financial Officer explained that the strong results were in part due to its online marketing. It has 2.9m subscribers on YouTube and 2.2m on TikTok.
“Building on the phenomenal success of FY24, we are delighted to report that FY25 has delivered Footasylum’s best-ever financial performance. We achieved record revenues, profits and cash generation, driven by sales growth in all business channels. Our performance was also supported by the success of our creative content channels, which now boast an astonishing 6.7 million followers and generated more than 3 billion organic impressions over the year.
“During the period, we successfully refinanced with a £35m revolving credit facility from HSBC, enabling Footasylum to further enhance its digital-first customer journey while continuing to open new stores in locations convenient for our consumers. It will also support the development of Footasylum’s key exclusive brands, which are proving increasingly popular with consumers.”
Underlying EBITDA up 26% to £28.2m (FY24: £22.4m)
Operating profit up 123% to £23.3m (FY24: £10.4m)
Profit before tax up 188% to £17.2m (FY24: £6.0m)
The company has also invested in a number of new and upsized stores across the country, including Gateshead, Aberdeen and Wrexham.
READ MORE – Footasylum “outperforms industry” with AI social marketing strategy
“We are pleased to report another year of record revenue and profit performance, demonstrating our resilience in a challenging market environment. Our strategic initiatives and new organisational structure have proven effective and position us strongly for sustained growth,” added David Pujolar, CEO of Footasylum.
“Our new store format, based on our Oxford Street blueprint, has enhanced the Footasylum shopping experience and been well received by consumers. Our focus on customer service remains a cornerstone of our approach, strengthening brand loyalty and generating valuable feedback that informs our business decisions. Additionally, our successful expansion into the wholesale channel demonstrates our ability to identify, and respond to, consumer preferences and emerging trends.
“This year has been transformative as we evolve from a traditional retailer into a multifaceted group with diverse channels and creativity. We are excited to have formed strategic partnerships with global brands such as Nike, Adidas and New Balance. These collaborations elevate our offering and reflect our commitment to delivering the best on-trend products to our consumers.
“Our leading social media and digital presence has enabled us to connect with our consumers in unique and engaging ways, fostering loyalty and community around our brand. We continue to prioritise customer feedback through these channels to refine our services and offerings. As we look ahead, we are optimistic about the coming year, guided by our successful initiatives, valued partnerships and dedication to exceptional customer service.”
Rochdale-based Footasylum employs 2,500 staff and has more than 60 stores in the UK and a 16,000sq ft studio in Manchester which houses a creative team of 40.
The company was acquired by AURELIUS in August 2022 after the Competition and Markets Authority ruled against a takeover by JD Sports.
