Lingerie retailer Ann Summers is back in profit
>
Lingerie retailer Ann Summers returns to profit after restructuring to survive the pandemic
<!–
<!–
<!–<!–
<!–
<!–
<!–
Back on track: Boss Jacqueline Gold (right) with Love Island star and Ann Summers model Lucie Donlan
Lingerie retailer Ann Summers returns to profit after restructuring to survive the pandemic.
The company, which also sells toys and accessories for adults, made £6.4 million in the year to June 2021, after a loss of £12.4 million in the previous year.
Closing stores in lockdown hit hard and in December 2020 a financial restructuring allowed it to renegotiate deals with landlords.
New product lines such as bras for fuller breasts, maternity and nursing clothes paid off. And Knickerbox, an underwear brand it owns, started selling swimwear.
Website investments boosted online sales and revenue increased by £9 million to £93 million. It is now looking for more locations and employs about 1,000 people. However, the company warned that rising inflation and rising costs will “undoubtedly impact profitability” and customer spending.
Ann Summers was founded in 1970 and bought in 1971 by West Ham football club president David Gold and his brother Ralph.
It is run by Gold’s daughters, Jacqueline and Vanessa. Jacqueline (pictured top right with Love Island star and Ann Summers model Lucie Donlan) was chief executive, but moved to the role of executive chairman this year. Vanessa is now general manager.