Popular streetwear retailer posts revenues of £89 million

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Footasylum announces impressive revenues

Popular footwear and streetwear retailer, Footasylum has posted an increase in revenue for the 18 weeks to 30 December 2017.

The company, which has its headquarters in Rochdale, has reported revenues of £89 million, up 33.4% from the same period last year.

The revenue growth has come across wholesale, stores and ecommerce, saying that ecommerce was now accounting for a higher proportion of revenue than the year before, although it did not reveal specific figures.

The company also reported a 34.7% rise in revenue for the 44 weeks to 30 December 2017, up to £173m. It said trading continues to be in line with expectations.

During the period, Footasylum opened six new stores, taking their total store count to 65.

Shares have risen by 50% since the company joined London’s AIM market towards the end of 2017 so investors seemed to be profit-taking.

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