Crew Clothing’s accounts for 2024 show an improving trajectory at the business that continued its ambitious expansion plans in 2025.
Image: Crew Clothing
The accounts, newly filed at Companies House, show turnover rising to £123.39 million in the 52-week period from £117.16 million in the previous period (which was actually a 53-week one).
Meanwhile adjusted EBITDA rose to £23.99 million from £18.21 million.
Comparing the two years on a 52-week basis, turnover increased by 7% with significant growth across its core channels. E-commerce – that is, its own website – was up 14% and its stores rose 9%. That included underlying like for like stores growth of 4% with new openings driving the rest of the increase. Sales through third parties and wholesale made up a smaller portion of the business as it expanded its own channels, dropping back by 3% versus the previous year.
The adjusted EBITDA figure was up impressively and was driven by the strong sales performance as well as the cost of sales increasing at a much slower rate.
Meanwhile profit after tax for the latest year came close to doubling, reaching £19.4 million after £11.2 million in the previous period.
Earlier in the year the company had already shared the news that its Christmas and Q4 2024 performances were strong. In weeks 51 and 52 of the trading year, total business sales increased an impressive 45% compared to the previous year. Within this, digital demand leapt 70%, “reflecting the growing shift to online shopping”. Meanwhile, store estate net sales rose by a very strong 22%. And third-party channel sales also grew by 34%, driven by partnerships with retailers such as M&S and John Lewis.
In Q4 as a whole, total like for like sales were up 17% and the company also reported a record-breaking Black Friday period, with total business sales growing 23% from the peak trading period of Black Friday through to the end of December.
As mentioned, the year saw the company focusing heavily on its own channels and this continued into 2025.
Last year saw more new stores in key locations, an entry into athleisure, and further investment in tech to streamline and optimise its processes.
