Lingerie retailer Ann Summers is back in profit after restructuring to survive the pandemic
Back on the right track: Boss Jacqueline Gold (right) with Love Island star and Ann Summers model Lucie Donlan
Lingerie retailer Ann Summers is back in profit after restructuring to survive the pandemic.
The corporate, which also sells adult toys and accessories, made £6.4m within the yr to June 2021, after posting a lack of £12.4m the previous yr.
Shutting shops in lockdown hit it hard and in December 2020 a financial restructure allowed it to renegotiate deals with landlords.
Latest product lines comparable to bras for fuller busts, maternity and nursing wear paid off. And Knickerbox, an underwear brand it owns, began selling swimwear.
Website investment boosted online sales and turnover rose by £9m to £93m. It’s now on the lookout for more sites, and employs around 1,000 staff. Nonetheless, the corporate warned that soaring inflation and rising costs will ‘undoubtedly have an effect on profitability’ and customer spending.
Ann Summers was founded in 1970 and purchased by West Ham football club chairman David Gold and his brother Ralph in 1971.
It’s run by Gold’s daughters, Jacqueline and Vanessa. Jacqueline (pictured above right with Love Island star and Ann Summers model Lucie Donlan) was chief executive but moved to an executive chairman role this yr. Vanessa is now chief executive.