Me+Em sales growth driven by ‘pronounced’ US market

Womenswear brand Me+Em has reported a notable uptick in revenue after gaining ground in international markets where it has continued to expand in recent years.

In its filing in Companies House for the 52-week period ended 28 January 2024, the retailer posted a 46 percent increase in total group revenue to 119.5 million pounds, with overseas revenue also rising 81 percent year-on-year.

Much of its growth was attributed to the US, where it saw the most “pronounced” uptick of 106 percent amounting to 29.4 million pounds in sales for the region, which made up 25 percent of its sales mix.

The group’s gross profit margin came to 55 percent, while its gross profit for the period rose from 47.5 million pounds in the year prior to 65.9 million pounds.

Its EBITDA came to 21.1 million pounds, up from 16.1 million pounds, while its operating profit increased from 11.2 million pounds to 16.2 million pounds.

In its report, Me+Em said that it had experienced this “strong” trading period despite facing an “uncertain market with subdued customer spending”.

It did note, however, that its key strategies, in particular its focus on market expansion, aided in this positive performance, as did adapting to market conditions and growing its awareness of consumer expectations.