JoJo Maman Bébé is expecting positive trading via Next for sales growth looking ahead.
The nursery retailer made the statement as it reported a pre-tax loss of £672,350 for the seven months ending 31 January 2023 – blaming the ‘tough’ trading on consumer confidence due to rising household bills, The Industry.Fashion reported.
Online sales accounted for 52% of the total business, down slightly from the 55% in the prior year.
JoJo Maman Bébé also saw a continued increase in retail sales as customers returned to the high street.
Turnover for the seven-month period was £47.1 million compared to a turnover of £70.9 million for the 12 months to 30 June 2022.
Gross profit margin also dropped to 55.7% from 57.9%, driven by increased markdowns to reduce stock.
Next purchased a 44% stake in JoJo Maman Bébé in April 2022. The financial reported stated: “The investment by Foxford and Next provided an opportunity for the company to deliver an improved commercial proposition for the customer and benefit from the economies of scale of the Next UK wide distribution and store footprint. Furthermore, the shareholders’ combined resources and expertise will support the company’s growth ambitions both in the UK and overseas.”
