Expanding fashion retailer plans new warehouse in Peterborough as sales soar
A growing Peterborough fashion retailer is planning to invest in a new warehouse in the city.
Plus-sized clothing retailer Yours Clothing says it is considering the possible purchase of a new warehouse in Peterborough over the coming year.
The company says the investment is part of its ongoing commitment to improving its infrastructure and ensuring long term growth.
It intends to transfer its business to the new facility during the year.
Details of the location of the proposed warehouse have not been released.
News of the relocation plan came as the Yours Clothing, which operates 135 UK stores across the UK, reported a 22 per cent rise in revenues to £88.3 million for 12 months to January 28- compared to £72.1 million in the previous year.
Significantly, the company's online sales rose by 26 per cent and now account for 41 per cent of the retailer's total sales.
Sales at its stores rose by 20 per cent over the year with international sales increasing by 48 per cent, representing seven per cent of total sales.
Sales at its menswear divisiion, BadRhino, rose 27 per cent and represent four per cent of total sales.
The number of employees at Yours Clothing rose by 109 over the year to 1,104 people.
Andrew Killingsworth, founder and chief executive of Yours Clothing, based at Southgate Way, in Orton Southgate, said: "Yours Clothing delivered an excellent performance in the year ended 28 January 2018, ahead of our initial expectations.
"This growth reflects the growing demand of our products and the strength of our omni-channel business model.
“Yours has a loyal and increasing customer base and with growing momentum in the UK and online.
"We are well positioned to capitalise on further opportunities in our core business as well as internationally and across our menswear range.
"We are excited about the significant growth opportunities ahead as we look to realise our ambition to be the leading plus-size retailer in the UK."