Smiggle creates over 100 UK jobs as sales and profits edge up

Smiggle created more than 100 jobs as its UK revenue and profits edged up during its latest financial year, it has been revealed.

The retailer has posted a revenue of £57.4m for the 12 months to July 29, 2023, up from £54m.

Newly filed accounts with Companies House also show that its pre-tax profits increased from £2.5m to £2.7m over the same period.

The average number of people employed by Smiggle in the UK increased in the financial year from 815 to 921.

During the year the number of stores Smiggle operated in the UK decreased from 110 to 107.

Since then, the company has closed four stores and opened four new locations.

A statement signed off by the board said: “Whilst the company has seen a return to sales growth during the year, there remains significant uncertainty over the continuing economic impacts from the Russia-Ukraine conflict, the conflict in the Middle East, rising inflation and other cost of living pressures.”

Australian-headquartered Smiggle was founded by Stephen Meurs and Peter Pausewang in 2003 and acquired by the Just Group in July 2007.

The Just Group’s other brands include Just Jeans, Jay Jays, Jacqui E, Portmans, Dotti and Peter Alexander Sleepwear.

The group is owned by Premier Investments, the ASX-listed retail conglomerate.

Worldwide, Smiggle posted a 22.4 per cent increase in its sales during the year to $319.8m.