The Perfume Shop’s full-year results to 30 December ’23 saw revenues rise from £289m to £302m, but this was accompanied by a fall in profit from £21m to £18.6m.
The business had refitted 27 stores during the year to improve customer experience whilst taking the opportunity to exit two branches at their lease breaks.
In its report, The Perfume Shop said that it had faced a challenging and strongly competitive market with subdued consumer sentiment due to inflationary pressures and high interest rates impacting disposable income. However, it added that there was potential to achieve solid growth by maintaining its strong position in the UK market.
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