Ann Summers FY23 Turnover Rises 4.5 Percent to GBP 104.6 Million on Store Growth

Ann Summers has reported turnover of GBP 104.6 million for its 2023 financial year, up 4.5 percent from GBP 100.1 million, as shoppers returned to its high street stores.

Gross profit rose 3 percent to GBP 61.8 million. Store sales, which the company describes as its most profitable channel, grew 12 percent, helped by new stores in Chelmsford, Croydon, Buchanan and Brent Cross. The company also redesigned its website, added technology to improve logistics and expanded its third-party partnerships to 14 with the addition of Debenhams.

Ann Summers said trading was robust in the first half, supported by a strong Halloween season, but that inflation and the cost-of-living crisis weighed on consumer confidence in the second half. Accounts filed for the period show a pre-tax loss of GBP 3.8 million for the year to July 1, 2023, narrowed from GBP 21.9 million the year before.

Chief executive Maria Hollins said the year had been one of great personal and professional sadness after the deaths of former shareholder David Gold and executive chair Jacqueline Gold. "The loss of Jacqueline has been immeasurable to us and our colleagues, but we, with the support of Vanessa Gold our Executive Chair, remain determined to continue her legacy and ensure the growth and success of Ann Summers for the future," Hollins said.