Investment by fashion retailer M&CO brings surge in sales

HIGH STREET: Retail closures present M&CO with opportunities to invest in its store portfolio

Fashion retailer M&CO has shrugged off challenging retail conditions to increase sales in the year to February 2018.

Employing around 3,400 staff across the UK, the firm, which has 300 branches including stores in Arbroath, Perth, Broughty Ferry and Glenrothes, saw sales grow by 5.4%.

Operating profit was maintained at £6 million, while store like-for-like sales grew 2.4%, and online growth surged at 18.3%.

The company is one of the largest privately-owned fashion retailers in the UK and said that an ongoing programme of new store acquisition, existing store refurbishment, investments in leading-edge technology and national advertising campaigns has delivered year on year sales growth for the last four years.

Chief executive Andy Mcgeoch commented: “Annual sales, including concessions and VAT, have grown to £211.4m with like-for-like increases across both retail store and online sales channels.

“As we navigate the complexities of the current market and in light of recent announcements from UK retailers, it is hugely encouraging to see this growth.

“With store closures from some of the UK’S largest brands, local high streets become a more attractive opportunity as we continue to strategically invest in our store portfolio.”

M&CO has opened 18 new stores during the year and has invested £12.3m in capital expenditure including the implementation of a new all-store, state of the art electronic point of sale system, new store fit-out and the purchase of further freehold properties.

An item from M&co’s Khost clothing range.