Online and international development drive Phase Eight growth

Fashion retailer Phase Eight has reported that sales increased to £197.6 million in the 14 months to 2 April 2016 – up from £159.8 million one year before.

EBITDA jumped from £24.5 million to £31 million, while a key driver of sales at the company has been the ongoing web and international development which now accounts for more than 20% of the group's top line.

The financials, which were released on Friday, represent the first full annual figures since Phase Eight was acquired by South African retail group Foschini, in January 2015.

Phase Eight saw 105 net new openings in the year, taking the total point of sale around the world to 555. This included the opening of five stores and 100 concessions during the 14-month period, including growth in Japan, Hong Kong and Singapore, and continued expansion in Europe, the Middle East and North America.

Within the UK & Ireland, Phase Eight launched its Studio8 collection in August 2015, which has reportedly been well received.

Ben Barnett, CEO of Phase Eight, commented: "This has been an excellent year for Phase Eight, with further progress on our journey to build a truly international brand.

"Our continued focus on delivering exceptional product and service, both offline and online has allowed us to grow our customer base, supporting our global sales and profitability. As such, the brand remains extremely well positioned for the next phase of its development."

In an interview with Essential Retail in April, Barnett credited the retailer's new owners with providing the funds to boost the business's appeal both in the UK and internationally, while developing its online offering and technological capability.

Read the full interview with Ben Barnett here