In The Style reported strong sales growth over Christmas in a trading update on Wednesday, and revealed its chief financial officer and chief operating officer Paul Masters is exiting the business “to focus on his health”.
In the eight weeks to December 31, the company reported net sales of 11.2 million pounds, an increase of 21.5 percent compared to a year ago, and 225.9 percent compared to two years ago.
The Manchester-based fashion e-tailer’s gross order value (GOV) came in at 15.2 million pounds in the period, up 41.4 percent year-over-year, and up 178.4 percent year-over-two-years.
The company said it now expects full-year revenue growth in the range of 55 million pounds to 57 million pounds, in line with market expectations.
CFO, COO departure
In The Style also announced Wednesday that Paul Masters would be stepping down in March from his joint position of CFO and COO of the business to focus on his health.
Richard Monaghan will succeed Masters in the role of CFO. He will join the business in mid-March.
CEO Sam Perkins said in a release: “The group has continued its excellent growth to achieve a strong sales performance during the important golden quarter.
“This outcome was achieved despite the well-documented uncertainties facing both consumers and retailers during the period and is testament to the appeal of the In The Style brand, continued positive momentum across several key customer metrics, and the success of our recent influencer collaborations.”