High street nursery brand, Mamas & Papas, has reported strong sales, boosted by its continued expansion of its UK retail space.
The group increased revenues 17% in the six months to September. It opened 10 new concessions under its strategic partnership with retailer Next in the same period, with a further three to follow in H2 alongside three new concessions with Marks & Spencer.
Sales at its online business also grew quickly despite its focus on new physical space, which it said demonstrated the demand for its brand as well as the resilience of the sector.
The Group posted sales of £126m in its last full financial year ended 27th March 2022, up 35% on the previous year. Full year profits increased to £11m (ebitda) and £6.8m (PBT).
Mamas & Papas said it was also expanding its range of travel systems, nursery furniture and children’s clothing, with an increased focus on entry-level price points.
Mark Saunders, Chief Executive Officer of Mamas & Papas, said: “Whilst there are undoubtedly challenges from the continuing cost of living crisis and emerging economic downturn, the nursery products market has always proven its resilience due to being far less discretionary than other non-food retail sectors.
“Combined with our momentum in the market and the loyalty of our customers, this is giving us confidence to continue investing in our growth strategy, including our strategic partnerships with Next and Marks & Spencer, as well as investing in our communities and colleagues through our ESG agenda.”
“Whether it’s through our website or in-store, our goal is to become the most accessible nursery brand with an unrivalled commitment to our customers.”