Sales surge at Footasylum as young shoppers defy economic conditions to splash out on top brands
By DAILY MAIL CITY & FINANCE REPORTER
Updated:
Sales and profits surged at Footasylum as younger shoppers turned to top brands despite a ‘challenging’ economic environment.
The Rochdale-based shoes and clothing chain reported a record financial performance in the year to the end of January.
Revenues totalled £350million over the period, about 9 per cent higher than the previous year.
Profit nearly tripled from £6million last year to £17.2million over the latest financial year, the firm said.
Footasylum claimed this was driven by both store and online sales increasing, while sales of its exclusive brands – items which are only available through the retailer – doubled year-on-year.
Footasylum’s key customer base are Generation Z shoppers, who the retailer has said typically prioritise spending on fashion, embrace new trends, and regularly shop through digital channels.
On trend: Rochdale-based shoes and clothing chain Footasylum reported a record financial performance in the year to the end of January
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