In The Style issues profit warning amid surging sales

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In The Style has reported a surge in sales, but warned that it expects its profits to be hit by the supply chain issues plaguing the UK.

The Manchester-based online womenswear retailer said on Friday that the increase in transport costs, the disruption of the shipping schedule and the increase in the return rate will have an impact on its bottom line. He said the problems would likely last until the end of his fiscal year in March.

The company’s shares are down more than 14% on the news.

CEO and Founder Adam Frisby said, “We continue to invest in our team and infrastructure to support our long-term growth, and despite the widely publicized external headwinds that are expected to continue to impact the retail industry. retail over the next few months, we remain very well positioned to continue to develop In The Style and realize the exciting potential of the brand.

The warning came as the company announced a 45% year-over-year increase in the group’s revenue over the April-August period, while the gross order value of the e-commerce was up almost 50%.

Increased sales at In The Style

The retailer said its proprietary app also continued to deliver high levels of consumer engagement, with in-app sales increasing to 62% of total e-commerce sales, up from 53% a year earlier.

The group’s wholesale sales jumped more than 200% over the period thanks to new partnerships, including one with Asda which saw the brand’s launch in 100 of the UK supermarket’s stores.

In The Style has grown rapidly in recent years and launched its IPO in March which raised £ 11million in gross proceeds.

“We are pleased with the strong sales momentum achieved during the year to date,” said Frisby.

“This momentum has been supported by growing consumer awareness of In The Style and by our clear branding mission to empower customers to be brave, have confidence in their bodies and most importantly, love themselves for who they want. are.”

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