The Beauty Boom Figures from Space NK reveal continuing 3-year growth trend
LONDON, Nov. 22, 2024 /PRNewswire/ -- Space NK reveal growth during the last financial year, as turnover rose 34 per cent to £196.5 million in the year to the end of March, compared with the previous 12 months. Pre-tax profit rose from £1.5 million to £7.5 million during the same period.
This growth has continued into the current financial year, with half year figures up 38% per cent year-on-year. Diving deeper into this performance, it's clear Space NK is truly an omnichannel business with shop sales rising 24 per cent and online sales increasing 35 per cent during the first six months of the year.
Performance has been fuelled by Space NK's growth in customers, with its active base experiencing double-digit growth across all age categories, from Gen Z through to millennials and Gen Alpha. The fastest-growing category being the under-25s, at 164 per cent.
Andy Lightfoot, CEO, explained "We are delighted to report another record-breaking half of sales (April 24 - Sept 24) up 38% on last year, continuing our run of greater than 30% growth every year since 2020. Since then, the business has more than doubled its revenue and with our customer first mindset and expertly curated brands, we are delighted with our consistent and continuous growth".
Plans to increase Space NK's store portfolio by a further 10 additions to the existing estate are in flight – Meadowhall (Sheffield) opened November 17th 2024, a new store in Milton Keynes will open this weekend (23[rd] November) with further openings in Bluewater and other locations scheduled for 2025.
Photo: https://mma.prnewswire.com/media/2565331/Space_NK.jpg