Boux Avenue manages to reduce EBITDA loss amidst economic challenges

Boux Avenue, a UK lingerie retailer, demonstrated resilience in the face of economic headwinds and the Red Sea crisis, achieving a significant improvement in EBITDA, which increased by over 2 million pounds to a loss of 5.8 million pounds for the year ending March 30, 2024. This marks a substantial improvement compared to the previous year's EBITDA loss of 8.2 million pounds.

Despite these positive developments, the company experienced a decrease in turnover to 59.9 million pounds, with overall sales down by 4.4 percent. While still a decline, this represents an improvement from the 6.7 percent sales drop in 2023. Like-for-like sales also saw a decrease of 2.2 percent.

In a filing with Companies House, Boux Avenue expressed satisfaction with these results considering the challenging market conditions and stated its expectation of achieving a break-even year.

The company's strategy centres on a multichannel approach, leveraging its established network of 26 prime UK stores alongside expanding its online presence through partnerships with major retailers such as Next, M&S, Asos, and Very.

Further bolstering its financial position, Boux Avenue secured a new 5 million pounds loan facility from Radleigh Lakes Limited in April 2024. The company is also committed to sustainability, evidenced by becoming a signatory of Textile 2030 and actively working towards using more sustainable materials and reducing plastic packaging.