• Home
  • Executive
  • Report
  • Missguided annual revenues jump 34 percent

Missguided annual revenues jump 34 percent

By Prachi Singh

loading...

Scroll down to read more

Report

Missguided sales of 117 million pounds (147 million dollars) for the current financial year jumped 34 percent against the last year, says a report by Internetretailing.net. The company has attributed the positive sales momentum to its investments in multichannel initiative including spreading retail footprint of the brand.

However, the company’s profits took a hit since Missguided invested heavily marketing, technology, infrastructure and new appointments. EBIDTA declined 2.6 million pounds (3.2 million dollars) against 5.5 million pounds (6.9 million dollars), the company reported last year.

Retail expansion drives sales growth at Missguided

The year under review saw a 21,000 sq. ft. flagship store opening at Westfield, Stratford. The fast fashion retailer also enjoys presence at third-party stores including 60 Nordstrom locations in the US, at Selfridges and Schuh. Apart from eyeing further store openings, the company also inked wholesale partnerships with third-party retailers including Asos and Zalando during the year.

The company also witnessed its international business grow with 40 percent of its business this year contributed by the international markets. Missguided is also seeing the positive impact of its investments with a considerable increase in EBITDA.

Boasting a follower base of over 3.3million across nine social networks, which includes over 2 million followers on Instagram, 995,000 on Facebook and 399,000 on Twitter, Missguided also introduced localised German and Polish platforms, free UK returns, Apple Pay and new delivery programmes with Asda, Doddle and Collect Plus, during the year as a part of its strategy to push sales.

Picture:Missguided

Missguided