{"id":215400,"date":"2023-01-05T12:24:10","date_gmt":"2023-01-05T12:24:10","guid":{"rendered":"https:\/\/theindustry.beauty\/?p=215400"},"modified":"2023-01-05T12:34:56","modified_gmt":"2023-01-05T12:34:56","slug":"space-nk-annual-sales-rise-but-investments-shrink-profits","status":"publish","type":"post","link":"https:\/\/theindustry.beauty\/space-nk-annual-sales-rise-but-investments-shrink-profits\/","title":{"rendered":"Space NK turnover rises but investments shrink profits"},"content":{"rendered":"<p><strong><span style=\"color: #008080;\"><a style=\"color: #008080;\" href=\"https:\/\/theindustry.beauty\/the_directory\/space-nk\/\" target=\"_blank\" rel=\"noopener\">Space NK<\/a><\/span> has released its financial results for the year ending 26 March 2022, revealing an increase in turnover to \u00a3119.1 million.\u00a0<\/strong><\/p>\n<p><!--more--><\/p>\n<p>This compares to a \u00a3111.8 million turnover in 2021, which had also included the results from Space Brands Limited, a subsidiary that was sold at the end of that year for a profit of \u00a383.1 million.<\/p>\n<p>In the UK, turnover totalled \u00a3118 million, compared to \u00a393 million in the previous year.<\/p>\n<p>This performance was credited to a number of strategic decisions which continued to fuel growth, including investing in stores, operations, technology and customer acquisition. This helped the company increase its active customer base by over 40%.<\/p>\n<p>However, these initiatives impacted Space NK's profitability. EBITDA totalled \u00a32.2 million, compared to \u00a392.7 million in 2021. This decrease was also due to the sale of Space Brands Limited in 2021.<\/p>\n<p>In addition, the company made a net loss of \u00a3620,768 against a profit of \u00a387.62 million in 2021. Space NK also reported a drop in employees, from 603 in 2021 to 558 in 2022.<\/p>\n<p>Looking ahead, Space NK expects to see a continued growth in online sales, as its physical stores have seen a return of sales and profitability.<\/p>\n<p><span style=\"color: #008080;\"><a style=\"color: #008080;\" href=\"https:\/\/theindustry.beauty\/the-interview-space-nks-ceo-andy-lightfoot-on-its-new-covent-garden-store\/\" target=\"_blank\" rel=\"noopener\">Read TheIndustry.beauty's interview with Space NK's CEO Andy Lightfoot on its first-ever double-level store<\/a><\/span>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2026 <a href=\"https:\/\/theindustry.beauty\/space-nk-annual-sales-rise-but-investments-shrink-profits\/\">...<\/a><\/p>\n","protected":false},"author":100,"featured_media":215410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[10148,11222,35,10202],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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