Phase Eight reports strong growth in annual sale and profit

Phase Eight, for the 14 month period ended April 2, 2016, reported sales growth in the UK and worldwide, with turnover reaching 197.6 million pounds (257.6 million dollars, against 159.8 million pounds (208.3 million dollars) in the prior year. The company said, solid EBITDA growth, supported by consistent margin delivery reached 31 million pounds (40 million dollars) against 24.5 million pounds (31.9 million dollars) in 2015.

“This has been an excellent year for Phase Eight, with further progress on our journey to build a truly international brand. Our continued focus on delivering exceptional product and service, both offline and online has allowed us to grow our customer base, supporting our global sales and profitability. As such, the brand remains extremely well positioned for the next phase of its development,” said Ben Barnett, Chief Executive of Phase Eight.

Global retail expansion was the highlight of the year

Online and international each now represent over 20 percent of Group sales and the company added 105 new openings in the year, taking the total to 555 points of sale, including 13 online channels. Phase Eight’s openings included 46 new international stores and concessions, with further growth in Asian markets including Japan, Hong Kong and Singapore, as well as continued expansion in Europe, the Middle East and North America.

Within the UK & Ireland, the team continues to focus on opportunities for profitable growth, both through new store openings and expansion of the Phase Eight product range. This included the launch of Studio8 collection in August 2015

Commenting on the current year trading, Lee Harlow, Managing Director of Phase Eight, said, “The current financial year has started very well, with warm weather in the UK proving no barrier to a strong reaction to our A/W collections through the season to date. The management team remains excited about the brand’s growth prospects, both in the UK and internationally.”

Phase Eight, a womenswear brand founded in London in 1979 is owned by TFG, the South African retail group, since January 2015. The brand is now present in 21 markets worldwide, through a combination of solus stores and concessions in partnership with leading international retailers including De Bijenkorf (Netherlands), Breuninger (Germany), Takashimaya (Japan), El Palacio de Hierro (Mexico), Ahlens (Sweden), David Jones (Australia), Manor (Switzerland), Brown Thomas (Ireland) and Tangs (Singapore). In the United Kingdom, Phase Eight is represented through solus stores in high streets, market towns and shopping centres, as well as through long established partnerships with John Lewis, House of Fraser, Debenhams, Fenwicks and independent department stores.

Picture:Phase Eight