AllSaints Appoints Ex-ASOS Exec Sean Trend CFO Amid US Growth

AllSaints, the expanding British fashion retailer, has announced a significant change to its executive leadership with the appointment of Sean Trend as its new Chief Financial Officer. This strategic move coincides with the company’s recent filing of its US subsidiary accounts, offering insights into its performance in a key international market.

Sean Trend is slated to officially join the AllSaints group in February 2026, where he will take over from Elaine Deste, who is retiring after a highly impactful tenure of nearly six years in the CFO role. Trend brings a wealth of experience from ASOS, where he has held a diverse range of senior executive positions since 2017. His roles at ASOS included director of finance, SVP strategy & insights, SVP North America, and most recently, MD of the UK & US, demonstrating a comprehensive understanding of both financial operations and strategic market development within the fashion sector.

Peter Woods, CEO of AllSaints, expressed his enthusiasm for the incoming CFO, stating that Trend "has a fantastic mix of hugely relevant financial, operational and management experience, much of it in the fashion sector and also across the key regions in which we operate." Woods added his confidence that Trend "will fit in brilliantly in our group and play an integral role in helping us to achieve our exciting long-term growth plans." The CEO also took the opportunity to commend Elaine Deste for her remarkable contributions, acknowledging that she "has made an enormous contribution since she joined us in early 2020, and her rigour, professionalism and dedication will all be missed." He concluded by extending sincere thanks on behalf of the entire company and wishing her a happy retirement.

Turning to the financial performance, AllSaints USA Limited filed its accounts at the UK’s Companies House for the year ending 1 February 2025, reporting a "strong trading performance against a challenging global economic background." While acknowledging the inherent complexities in precisely isolating the performance of an international subsidiary, the company highlighted continued growth within its wholesale business. Retail store sales, however, experienced an impact due to the annualisation of closures that occurred in both 2023 and 2024, although the company did also open several new stores during the period.

For the US business, revenue saw a significant increase, climbing to $207.5 million from $165.3 million in the prior year. It's important to note that the latest reporting period comprised 52 weeks, while the previous year spanned 53 weeks. The company attributed this revenue surge primarily to robust sales to its wholesale partners. Furthermore, post-operating exceptional EBITDA, which reflects the adjusted trading performance after accounting for operating cost arrangements within the parent group, also rose from $17.59 million to $18.22 million, indicating improved underlying profitability.

Looking ahead, AllSaints addressed the prevailing market conditions, noting that consumer spending has remained subdued following the year-end and that tariff announcements in the US have introduced an element of uncertainty. In response to these challenges, the group has demonstrated agility by "replanning product ranges and supply chains in order to protect both US revenues and gross margin performance while also remaining competitive," underscoring a proactive approach to market dynamics.

The company's commitment to strategic physical expansion in the US market was also evident. During the period, AllSaints opened a new store for its headline brand in Atlanta. Its subsidiary brand, John Varvatos, also launched a new store in Miami, although this involved the closure of an existing Miami location. Additionally, a new flagship store for AllSaints was unveiled in Soho, New York, in September, further solidifying its presence in key urban centres. In San Francisco and San Diego, the brand also undertook strategic store relocations to more advantageous positions.