Footasylum profits surge to ‘record’ highs, powered by new store openings

Footasylum has reported another year of record sales and profits for the financial year ending 25 January 2025, driven by significant growth across both wholesale and retail channels.

The footwear and sportswear retailer posted a 9.4% increase in total revenue, reaching £349.5m, compared to £319.5m in FY24. Operating profit surged 123% to £23.3m, up from £10.4m last year.

The retailer said the growth was driven by a 101% rise in wholesale sales and a 4.3% increase in total retail sales, including both store and online channels. Online sales grew 6% to £143.6m, now accounting for 41% of total sales.

Footasylum also saw success in expanding its product range, with womenswear sales rising 18% and juniors sales up 17%. These categories have been a key focus for the business, supported by larger store formats and brand extensions.

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During the period, the business continued its investment in store expansion, including new openings and upsizing of existing stores.

Exclusive brand sales also saw strong growth, up 101% year-on-year, now accounting for 10% of total sales. The company’s focus on building relationships with major brands, including Nike, Adidas, and New Balance, has been a driving force behind its success in the wholesale space.

Footasylum CEO David Pujolar, said: “We are pleased to report another year of record revenue and profit performance, demonstrating our resilience in a challenging market environment.

“Our new store format, based on the Oxford Street blueprint, has enhanced the Footasylum shopping experience and been well received by consumers. Our strategic initiatives have proven effective and position us strongly for sustained growth.”

“We are confident in another year of growth as we continue to expand our footprint, strengthen our partnerships with global brands, and improve our omnichannel capabilities,” he added.

The company’s strong social media presence also played a key role in its performance, with Footasylum now boasting 6.7 million followers and generating more than 3 billion organic impressions over the year.

CFO Nick Scott added: “We are delighted to report that FY25 has delivered Footasylum’s best-ever financial performance. We achieved record revenues, profits, and cash generation, driven by sales growth in all business channels.

“Our performance was also supported by our creative content channels and successful refinanced £35m revolving credit facility with HSBC, enabling further investments in the business.”

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