M&Co reports sales boost

M&Co has reported annual sales of £163.2 million for the year to February 26th 2016 along with a 57 per cent rise in EBITDA to £3.4 million. The business has been revamping its stores and has announced plans to open ten additional stores a year for the next five years whilst also further developing its online sales. M&Co targets women aged plus, a demographic which others have been finding increasingly competitive. M&Co chief executive Andy McGeoch commented “With the resurgence in local shopping our store portfolio, which is largely located in prime positions in market towns, is well situated. We are developing our eCommerce strategy to complement our store base with a full omnichannel proposition.”