The Fragrance Shop smells sweet after Black Friday boost
Perfume retailer, The Fragrance Shop, said it was a major winner from Black Friday as online sales jumped and click and collect orders drove shoppers to its 199 stores.
The company said in the seven weeks to January 4 sales were up 1.2%, with online revenues jumping 17%. Click and collect orders jumped 40% and Black Friday was “increasingly popular”.
During the festive period, the retail chain added it saw “Chanel and Dior performing very well and Sauvage maintaining its position as the favourite brand bought by Fragrance Shop customers over the holidays.”
Bosses also revealed that sales for the full year to March 2019 were up 2.6% to £124.7 million, although underlying pre-tax profits took a hit – down 5.5% at £15.5 million compared with a year earlier.
The Manchester-based retailer called it a “robust performance in the face of kamikaze discounting at distressed retailers that made the market acutely competitive, rising wage costs and increasing rates bills”.
House Of Fraser’s collapse and takeover by Sports Direct last year, also buffeted the retailer, with its concessions closing.
But chief executive Sanjay Vadera pointed out the company has not shut any stores in the past 12 months.
He added: “We’ve opened 15 stores over the last 18 months because it’s clear the winners in retail will be those that can successfully integrate their digital and physical businesses to look after a customer that wants to pick and mix between the two.”