carlDuring its latest financial year, Smiggle, the popular retailer known for its colourful stationery and accessories, experienced modest growth in its UK revenue and profits. Revenue for the 12 months ending July 29, 2023, reached £57.4 million, up from £54 million in the previous period. Additionally, pre-tax profits saw a slight increase from £2.5 million to £2.7 million.
Despite the challenging economic landscape, Smiggle managed to create over 100 new jobs in the UK, with the average number of employees rising from 815 to 921 during the financial year.
However, the number of Smiggle stores in the UK decreased slightly from 110 to 107 over the same period. Nevertheless, the company has since undertaken a strategic realignment, closing four stores while simultaneously opening four new locations.
In a statement issued by the board, they acknowledged the return to sales growth but also highlighted ongoing economic uncertainties stemming from global geopolitical tensions, inflationary pressures, and other cost-of-living factors.
Founded in 2003 and acquired by the Just Group in 2007, Smiggle continues to navigate the ever-changing retail landscape while maintaining its position as a leading provider of vibrant and creative stationery products.
