Victoria Plum posts record 46% surge in full year sales

// Victoria Plum full year sales up by a record 46% to £103m

// EBITDA skyrockets 115% to £4.3m

// Victoria Plum’s website users also increases by 165% to 23.2 million

Online bathroom retailer Victoria Plum has booked a record sales increase of 46 per cent to £103 million for its full year period ending February 28.

Meanwhile its full year EBITDA skyrocketed by 115 per cent to £4.5 million.

Over the same period, the retailer also grew its workforce, with staff headcount going from 349 to 398.

This year marks Victoria Plum’s 20th year in business and one-and-a-half years since it was acquired by Leeds-based private equity fund Endless.

During that time, Victoria Plum has continued its management-led turnaround and transformation strategy under chief executive Paul McClenaghan.

This included launching a bathroom design and installation service in 2020,

Victoria Plum also took the decision last year for all its staff to permanently work remotely.

The only exceptions are the teams working in the online retailer’s 275,000sq ft distribution facility in Doncaster and across its nationwide delivery network.

Victoria Plum’s Doncaster facility and one of its offices in Hessle, East Yorkshire, have now become hubs where staff can work and meet according to their requirements.

“We have an ambitious growth strategy, highly capable people throughout the company and a collective determination to further accelerate our rate of expansion,” McClenaghan said.

“These latest record results validate our approach and provide us with the platform to progress our plans at pace.

“Elements of our results have benefitted from the speeding up of the structural shift to online retail throughout 2020.

“However, we were constantly evolving Victoria Plum as a pure play online retailer long before last year’s events happened and will continue to do so.”

Compared to the previous financial year, Victoria Plum’s website users increased by 165 per cent to 23.2 million while its sessions rose 194 per cent to more than 51 million.

McClenaghan said: “We are confident that we will continue to grow at speed.

“Our market fundamentals are strong, we have the necessary scalable infrastructure in place and a clearly differentiated design and installation service that is experiencing rapidly increasing demand.

“In addition, the constant stream of valuable data and consumer insights we access and interpret enables us to quickly adapt our product offer to meet customers’ needs, keeping us ahead of the game.

“All this means we are ideally positioned to make Victoria Plum the most differentiated, most trusted and most respected bathroom provider.”

Click here to sign up to Retail Gazette‘s free daily email newsletter

The post Victoria Plum posts record 46% surge in full year sales appeared first on Retail Gazette.

from Retail Gazette https://ift.tt/3rAJ2ZV
via IFTTT

Comments

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...

Coronavirus Recovery: Canadian Small Businesses Must Focus on Easing Employee, Customer Fears

By M. Tina Dacin and Laura Rees A small business has been given the green light to reopen amid the COVID-19 pandemic . What does it need to consider for employees and customers? Small business owners are reorganizing physical space to account for continued distancing requirements and rethinking supply chains to deliver products and services in new ways to meet changing demand patterns. But they must not forget the hearts and minds of employees and customers. That doesn’t mean replacing a focus on the bottom line, but it helps address the need for a new set of expectations and ways of communicating in terms of product or service offerings, delivery methods and real-time feedback. Based on our expertise in organizational behaviour and past research we’ve conducted, we provide a set of recommendations to help small businesses thrive in our new COVID-19 economy by looking after the hearts and minds of the people most important to businesses — employees and customers. Fear, Anxi...

World's 1st Pizza Subscription Service Launches in Toronto

general assembly subscription user opening delivery box of pizza. photo: general assembly pizza By Mario Toneguzzi Toronto-based General Assembly Pizza has launched what it describes as the world’s first pizza subscription service as it also plans to aggressively expand its product offering in the near future by opening a new concept in the market. "Since opening our doors in 2017, we have pushed for the best guest-experience possible — that's why our dough is 100 percent naturally leavened, that's why we have a purpose-built 400-square-foot pick-up and delivery area, and that's why we’ve launched a direct-to-consumer subscription-based ecommerce platform,” said Founder & CEO Ali Khan Lalani. “In 2020, providing the best guest experience means General Assembly Pizza has to be more than a restaurant. I'm proud to say that after almost six months of planning, many roadblocks, and countless pivots — all while maintaining our day-to-day restaurant operatio...

Latest Retail Insight, News, Information & Articles from all top sources for the Internet.

Search This Blog