Classic Football Shirts sales jump but profits fall as it focuses on expansion
Specialist sportswear retailer Classic Football Shirts enjoyed a strong fiscal 2024 trading year as the Greater Manchester-based business explores further international expansion.
The company saw sales rising 30% to £31.8 million for the 12 months up to 30 June 2024, its Companies House accounts filing showed, up from the £24.4 million recorded for the previous year. However pre-tax profits fell from £5.4 million to £1.1 million for the period.
In the results, it said: 'The company continued with expansion plans during the year aided by improved availability of current season products, greater classic offering, as well as increasing the presence of physical stores in Europe and USA.
'The company remains the market leader in its sector of the industry', adding that 'the directors remain pleased with the growth in the year and plan to continue expansion to meet the demand of Classic Football Shirts' growing customer base and to ultimately continue to fulfil our company purpose, vision and mission'.
These results followed private equity company Chernin Group making a substantial $38.5 million (£28.6 million) investment in Classic Football Shirts in May 2023, noting at the time its intention to help the company in expanding its geographical reach, particularly into the US market.
The latest accounts also reveal that the business saw a rise in global revenue from £7.3 million to £9.8 million. In the UK, sales increased from £11.7 million to £13.1 million, while the rest of Europe grew from £5.4 million to £8.8 million.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Network
6 hours ago
- Fashion Network
Woolmark ambassador Tom Daley launches knit kit
Woolmark has teamed up with Tom Daley, last year making the British Olympic diving champion and entrepreneur an ambassador and now launching a wool knit kit. Also known for his time spent knitting to relax in between competitions, it appears Daley has sparked a fresh wave of wool enthusiasts to embrace the craft and pick up their knitting needles. Daley, who first took up knitting in 2020 to channel his energy during the Tokyo Olympics, found support among the knitting community, resulting in his 'Made With Love' knitting and crocheting movement. Over the past six months, Daley and his Made With Love team have been working with UK-based yarn manufacturer, Laxtons, to test and trial Merino wool yarns. The result is a pastel-inspired Woolmark-certified knit kit that includes three exclusive knitting patterns for a jumper, vest and hat. The knit kits are available in seven colours, Lilac Snow, Lemon Zest, Delicate Blue, Lime Cream, Pale Peach, Candy Pink and Natural Cream. Daley said: 'The knit kit brings some of my favourite pieces to life using 100% Merino wool. The wool fibre's natural properties make it perfect for comfort, breathability and warmth. It's a natural, renewable fibre I've always trusted and loved, and I can't wait to see how it inspires others on their knitting journey.' The Made With Love x Woolmark knit kits are now available online and increasingly in selected retailers across the US, UK, Europe and Asia in the coming months.
Fashion Network
8 hours ago
- Fashion Network
Classic Football Shirts sales jump but profits fall as it focuses on expansion
Specialist sportswear retailer Classic Football Shirts enjoyed a strong fiscal 2024 trading year as the Greater Manchester-based business explores further international expansion. The company saw sales rising 30% to £31.8 million for the 12 months up to 30 June 2024, its Companies House accounts filing showed, up from the £24.4 million recorded for the previous year. However pre-tax profits fell from £5.4 million to £1.1 million for the period. In the results, it said: 'The company continued with expansion plans during the year aided by improved availability of current season products, greater classic offering, as well as increasing the presence of physical stores in Europe and USA. 'The company remains the market leader in its sector of the industry', adding that 'the directors remain pleased with the growth in the year and plan to continue expansion to meet the demand of Classic Football Shirts' growing customer base and to ultimately continue to fulfil our company purpose, vision and mission'. These results followed private equity company Chernin Group making a substantial $38.5 million (£28.6 million) investment in Classic Football Shirts in May 2023, noting at the time its intention to help the company in expanding its geographical reach, particularly into the US market. The latest accounts also reveal that the business saw a rise in global revenue from £7.3 million to £9.8 million. In the UK, sales increased from £11.7 million to £13.1 million, while the rest of Europe grew from £5.4 million to £8.8 million.
Fashion Network
8 hours ago
- Fashion Network
Classic Football Shirts sales jump but profits fall as it focuses on expansion
Specialist sportswear retailer Classic Football Shirts enjoyed a strong fiscal 2024 trading year as the Greater Manchester-based business explores further international expansion. The company saw sales rising 30% to £31.8 million for the 12 months up to 30 June 2024, its Companies House accounts filing showed, up from the £24.4 million recorded for the previous year. However pre-tax profits fell from £5.4 million to £1.1 million for the period. In the results, it said: 'The company continued with expansion plans during the year aided by improved availability of current season products, greater classic offering, as well as increasing the presence of physical stores in Europe and USA. 'The company remains the market leader in its sector of the industry', adding that 'the directors remain pleased with the growth in the year and plan to continue expansion to meet the demand of Classic Football Shirts' growing customer base and to ultimately continue to fulfil our company purpose, vision and mission'. These results followed private equity company Chernin Group making a substantial $38.5 million (£28.6 million) investment in Classic Football Shirts in May 2023, noting at the time its intention to help the company in expanding its geographical reach, particularly into the US market. The latest accounts also reveal that the business saw a rise in global revenue from £7.3 million to £9.8 million. In the UK, sales increased from £11.7 million to £13.1 million, while the rest of Europe grew from £5.4 million to £8.8 million.
