Crew Clothing has revealed that its profits were up by 80% in the financial year ending December 26, 2021. Profits reached £16 million, and sales rose by 40% to £82.7 million.
The CEO of Crew Clothing, David Butler said:
“These are a robust set of results and underlines the strength of our omnichannel presence and unique brand appeal.”
This significant increase has been achieved by the expansion of the Crew Clothing digital eCommerce business and partnerships with other retailers. They also offer concession and licensing opportunities for retailers.
Trading in its stores has returned to pre-COVID pandemic levels and has been helped by selling the Crew brand in other retailers including Very, Next and John Lewis.
The company is confident of a high street revival and is looking for new sites to open retail shops. CEO David Butler said that in 2020 they took a different view from retailers who closed many of their stores. He explained that Crew Clothing had “aggressively” extended its chain of stores. The clothing brand now has more than 100 stores and intends to open around 40 more.
Crew Clothing’s business strategy is to sell excellent quality garments at value for money prices. They have a large core customer base and expect to increase the number of loyal customers in 2022 by growing their eCommerce operations and opening more stores. Crew Clothing operates modern efficient warehouses where heavy duty garment rails hold a wide range of clothing that is distributed to retail stores and delivered directly to customers’ homes.
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