Castore sales, profits leap; digital focus is key but cheaper store rents help too
Castore — or J Carter Sporting Club Limited as the company is officially called — has reported its results for the year to January with turnover rising an impressive 136%.
Turnover reached £66.2 million at the company with operating profit for the period at £16.6 million. That was more than double the £8.09 million of the previous year. The company’s pre-tax profit was £14.67 million compared to £8.06 million in the previous year, and net profit was £11.73 million, up from £6.52 million.
Its sales in the UK rose from £42.5 million to £79.8 million and they jumped from less than £1 million in Europe to reach £25.3 million. Meanwhile, North American turnover rose from £1 million to £3.1 million and in the rest of the world they were up from £4.3 million to £6.6 million.
The figures reflect a year, in which the firm successfully launched a number of new partnerships, including the Premier League, Formula One, Premiership Rugby, and International Cricket.
It also came as it continued to focus on its digital channels, which it said remain the “driving force” of the business, allowing it to “establish deep relationships with consumers and deliver strong brand engagement and loyalty”.
And its plan is to increasingly focus on digital growth while maintaining a strong focus on partnering with “world-class sports teams, who enhance our brand awareness and desirability”.
This concentration on digital doesn’t mean that it will be neglecting physical stores, however. And in fact, the company said that during the year in question it managed to capitalise on “highly favourable market conditions in the rental market to open new stores in line with our growing brand awareness”.
The Mancheste- based business also increased its headcount during the year, with a jump from 174 employees to 399.
