For the five week period ended January 2nd, ‘21 Seasalt has confirmed that its overall sales increased by 17 per cent year on year. This is despite a 44 per cent drop in store sales as this was countered by a 95 per cent increase in revenues from online sales. International demand rose by 20 per cent during the period.
Seasalt has suggested that due to forced store closures due to Covid-19 restrictions, its store sales for financial year ending 30 January 2021, are going to be about 57 per cent down on those for its previous financial year. But that increased online demand will help to bring the drop to be around nine per cent at year-end.
Seasalt CEO Paul Hayes said: “We had started our digital transformation well before the first lockdown, but the events of the past year have accelerated all our plans. We now make approximately two-thirds of our sales online and while our stores remain a vital and constantly-evolving part of the business, we expect a much higher percentage of sales to be digital from now on.”
“I am pleased to say that momentum from a strong set of financial results last year carried on into the new financial year and through Christmas,” said Seasalt CFO Malcolm Macdonald. ““As we begin our 40th anniversary year, we have taken the steps necessary to prepare Seasalt for the challenges ahead and we are well-positioned for continued success as the economy recovers.”
Seasalt which celebrates its 40th anniversary this year, is owned by the Chadwick family and operates online in 156 countries, via its 71 UK stores and leverages marketplaces like Zalando, and has wholesale customers in a number of key markets.
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