Ann Summers has posted £110 million in sales for the 53 weeks to June 30th 2018 and revealed a loss of £3.2 million. The business blamed fragile consumer confidence, weather extremes and “insurmountable government-led cost burdens.” The retailer had invested in new IT infrastructure and had opened two new stores during the period as well as refitting four other sites. It had also launched Lipsy Lingerie in AW17 and entered into a new partnership with Nordstrom.
Jacqueline Gold, CEO, commented: “Whilst we know we face further challenging times ahead, with our new brand purpose and vision for the future, the re-branding work we are doing is already impacting everything we do as a brand and how we communicate with our customers. However, this is just the beginning for our new brand journey, and I remain hugely optimistic for the long-term future success and growth of our business.”
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