Beauty Bay sees full year sales drop
Following the return to physical retail post-pandemic, Beauty Bay has reported a drop in sales for the year ending 31 March 2022.
The company's turnover decreased 31% to £93 million, compared to £134 million in 2021. However, turnover increased 13% against pre-pandemic levels, where it generated £82 million in the year to 31 March 2020.
Gross profit dropped 54% to £12.9 million, compared to £28.3 million 2021 and £16.3 million in 2020.
Pre-tax loss totalled £9.3 million, whilst EBITDA reported a loss of £7.7 million. Beauty Bay saw a net loss of £7.6 million, compared to profit of £7.6 million in 2021.
This performance was largely attributed to a return to more normalised levels of customer acquisition and orders post-pandemic following an "exceptional increase" in levels of new customer acquisition in 2021, where customers switched from physical retail to online retail to purchase beauty products during the COVID-19 lockdowns.
The company also revealed it increased its employees to 183, rising by 33 from 150 in the previous year.