Footasylum reports record profits
manchestereveningnews.co.ukFootasylum, the sportswear and footwear retailer headquartered in Rochdale with a creative hub in Manchester city centre, has declared a pre-tax profit of £6m for the financial year ending 27 January, 2024.
This represents a increase from the £2.8m reported the previous year, BusinessLive reports. The brand recorded significant growth owing to its expansion strategy, which included opening several new stores.
A major 20,000 sq ft store on Oxford Street in London is part of this expansion, along with new outlets in Birmingham, Essex, Westfield Stratford, Watford, Leicester, and a fresh location in Leeds from March 2024, as per City AM.
Furthermore, Footasylum's decision to diversify its range has been fruitful, witnessing womenswear and junior categories grow by 16% and 14%, respectively.
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