Boux Avenue reports 16.6 percent rise in holiday sales

Boux Avenue, a part of Theo Paphitis Retail Group having 28 stores in the UK, saw like for like sales during the Christmas period, increase 16.6 percent, accelerating from 8.9 percent last year.

Commenting on the trading, Theo Paphitis, the group's owner, said in a statement, “Once again, we observed the further shift of our customers to purchasing online with growth in this channel across the group being over 50 percent ahead of last year. Having started the Boux Avenue business only 5 years ago, even in this relatively short space of retail history, we have seen our business plan adjusted to take into account the momentous changes in shoppers’ habits. The brand will be moving to a new e-commerce platform this quarter.”

Boux Avenue FY16 UK sales increase 21.5 percent

Boux Avenue also has 14 franchise stores overseas. Total UK sales during the fiscal year ending March 2016, increased by 21.5 percent from 36.5 million pounds (44.6 million dollars) to 44.4 million pounds (54.3 million dollars), assisted by like for like sales growth of 13.4 percent. The company had reported sales rise of 35.5 percent and like for like growth of 18.9 percent in 2015.

Gross profit margins also increased by 2.1 percent in the year and gross profit increased by 5.1 million pounds (6.2 millio dollars). EBITDA loss reduced to 1.7 million pounds (2 million dollars) from 2.9 million pounds (3.5 million dollars) in 2015. The company said that the new financial year has seen further avenues for growth through the sale of Boux Avenue product on Asos.com, Very.co.uk, Littlewoods.co.uk and Lipsy.co.uk. It also aims to develop international sales through Bouxavenue.com and its franchise business.

The Theo Paphitis Retail Group also owns stationer Ryman and housewares retailer Robert Dyas.

Picture:Boux Avenue