Customers switching to on-line shopping throughout Covid-19 lockdowns helped turnover surged by more than £50m at a magnificence merchandise retailer throughout its newest monetary 12 months. Beauty Bay, which is headquartered in Manchester, has posted a turnover of £134.4m for the 12 months to March 31, 2021, up from the £82.2m it achieved through the prior 12 months. The firm’s pre-tax income additionally elevated from £4.4m to £9.2m over the identical interval. READ MORE: Sales drop for Carex, Original Source and Imperial Leather maker The variety of individuals employed by the agency through the 12 months elevated from 129 to 150. The enterprise, which was based in 1999, sells make-up, skincare, bathtub and physique, haircare, presents and different equipment. An announcement signed off by the board stated: “This enhance in turnover was pushed largely by will increase by 93% and 55% respectively in orders from new and current clients pushed from exceptionally sturdy ranges of recent buyer acquisition as clients switched away from conventional excessive road retail to on-line retail to buy magnificence merchandise throughout [the] Covid-19 lockdown interval[s]. “The group additionally continued to deal with driving its personal label enterprise and key strategic markets all year long which helped drive an enchancment in gross revenue margins to 21% within the 12 months (2020 – 20%). “The group continues to spend money on its digital platforms to ship ongoing functionality to adapt to altering market circumstances and allow it to keep up differentiation in an more and more aggressive market.”
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https://www.business-live.co.uk/retail-consumer/online-shopping-switch-helps-sales-23033555
