Crew Clothing Sees Record Growth and Expands for 2025

Crew Clothing Company has demonstrated a positive financial trajectory, according to its recently filed accounts for 2024 at Companies House. The company, which is actively pursuing ambitious expansion plans extending into 2025, reported a rise in turnover to £123.39 million for the 52-week period, up from £117.16 million in the prior 53-week period.

Adjusted EBITDA also saw significant improvement, increasing to £23.99 million from £18.21 million the previous year. On a comparable 52-week basis, turnover grew by 7%, fueled by substantial gains across key sales channels. Notably, e-commerce sales via the company’s own website surged by 14%, while brick-and-mortar store sales increased by 9%, incorporating a 4% rise in like-for-like sales and growth from new store openings.

The company strategically focused on strengthening its direct-to-consumer channels, resulting in a 3% decrease in sales through third parties and wholesale. This shift proved beneficial as the slower growth in the cost of sales, combined with the strong sales performance, drove the impressive increase in adjusted EBITDA. Profit after tax nearly doubled, reaching £19.4 million compared to £11.2 million in the previous year.

Strong trading momentum continued into the final quarter of 2024, with weeks 51 and 52 witnessing a remarkable 45% increase in total business sales compared to the previous year. Digital sales experienced a particularly strong surge, jumping 70%, reflecting the ongoing consumer trend towards online shopping. Store sales also performed well, increasing by 22%, and third-party channel sales grew by 34% thanks to partnerships with retailers like M&S and John Lewis.

Throughout Q4, total like-for-like sales were up 17%, and the company achieved a record-breaking Black Friday period, with total business sales growing 23% from Black Friday through year-end. Building on this success, Crew Clothing continued its focus on owned channels into 2025, marked by new store openings in strategic locations, a venture into the athleisure market, and ongoing investment in technology to enhance operational efficiency.