boundary

New concessions boost Boundary group as profit returns

Fashion, homeware and furnishing shopping destination group Boundary Outlet Stores has reported a surge in sales as turnover surpassed £20m.

According to its latest filed accounts for the year ended 31 January 2022, total sales rose 70% to £22.1m from £13m in 2021.

Gross profit increased from £4.8m to £13.1m, while pre-tax profit resulted at £2.6m, significantly improving from its loss of £3.4m recorded the previous year.

Stated within its report, Libra Textiles, trading as five-store Boundary, said it had developed new partnerships and concessions during the period, boosting performance and allowing the business to return to profit.

During the period, Boundary continued to invest in its stores, including reflooring sites in Newcastle, Sheffield and Walsall. Stores in both Newcastle and Sheffield also underwent a full refurbishment, which were relaunched earlier this year, while the Walsall location will be relaunched as Boundary Outlet during the summer.

“Over the next year, it is hoped that there will be more political and economic stability. Our business model remains strategically relevant today, and we are very well positioned to capitalise on opportunities that present themselves,” the company said.

Save this article for later

You can revisit this article if you save it as favourite news!

Share on twitter
Share on facebook
Share on linkedin
Share on whatsapp
Share on telegram
Share on email

Leave a Comment

have you read…

related articles

MORE ARTICLES