In its full-year results, Crew Clothing reported higher profitability thanks to “significant growth across all channels” and a slower rate of expense growth. For the year ending December 31, 2023, the British clothes company had a 26% increase in EBITDA to £17.1 million, while sales increased by 13%. The brand had a 28% increase in wholesale and third-party sales along with an 18% increase in ecommerce revenues. Sales at stores increased by 5% during that time.
Announcing that it has “invested in key areas of expansion including developing online presence and optimisation of the bricks-and-mortar estate” during its period of performance, Crew Clothing stated that it was still “committed to growth across all areas of the business.”
It reaffirmed that it was “committed to expanding retail stores into a number of key target locations in the UK” going forward. The company also announced that it has plans to broaden the range of products it offers in the areas of menswear, womenswear, childrenswear, and important gift categories like accessories and sleepwear.
