Good year for The Fragrance Shop
The Fragrance Shop has turned in a decent set of results despite what it called "the kamikaze discounting at distressed retailers". The store chain had increased its online sales virtue of its click & collect service and for the seven weeks to January 4th with online sales up by 17 per cent. In its full year results to March 2019 overall sales grew by a modest 1.2 per cent to £124.7 million.
Like many other niche retailers which had chosen the concession route, The Fragrance Shop had seen its performance impacted as its concessions in House of Fraser closed following the takeover of the department store chain, but it had opened stores to compensate.
"We've opened 15 new stores over the last 18 months because it's clear the winners in retail will be those that can successfully integrate their digital and physical businesses to look after a customer that wants to pick and mix between the two," said CEO Sanjay Vadera.