Latest news with #ClassicFootballShirts'
Fashion Network
20 hours ago
- Business
- 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
20 hours ago
- Business
- 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.
