AllSaints expansion boosts sales

FASHION retailer AllSaints has shrugged off a slide in full-year earnings, as costs linked to its international expansion and tech investments paid off with a 20 per cent jump in annual sales.

The UK company reported a 9 per cent drop in earnings before exceptional items to £26million for the year to January 28, which marked a sharp decline from the 18 per cent jump to £28.5million it booked a year earlier.

But AllSaints defended the results, saying they reflected start-up and pre-opening costs linked to its Japanese launch, as well as “strategic” investments in technology and new travel retail outlets. Chief executive William Kim said: “When you’re building a future-proof model, it takes investment.”

The move helped propel a 20 per cent jump in sales to £303million for the period, with digital revenues making up £57.4million, while international sales accounted for £142.2million.