Weird Fish has just reported some impressive results for the full year, highlighting how it’s not just riding the wave of recovery in retail, but actively swimming ahead with strategic growth and innovation. With the company’s EBITDA soaring by an incredible 110% to £5.38 million for the year ending on December 31, 2024, it’s clear that Weird Fish is making substantial gains—sales also jumped by 11.4% to reach £42.6 million. These figures reflect not just numbers on a page, but the hard work and dedication that have gone into transforming the brand’s offerings.
The brand isn’t merely counting numbers; there’s a real commitment behind the scenes. Gross profit rose 27% to £27 million, an impressive feat attributed to a strong focus on physical store expansion along with significant investments in third-party platforms. This dual approach is all about expanding Weird Fish’s reach and making sure that more people can discover and connect with the brand.
CEO David Butler voiced his pride in the company’s accomplishments, stating, “We’ve delivered a record financial performance across key areas, with the pace of operational improvement continuing into 2025.” It’s refreshing to hear such confidence from a leader who sees not only the achievements but also the ongoing journey. Butler emphasizes that their strategic initiatives—like enhancing brand visibility and evolving product lines—are resonating with consumers. It’s not just about making sales; it’s about creating value and building lasting connections with customers.
The brand’s focus is evident in the results, particularly in the seven-percentage point rise in gross margin, now at 63%. This achievement stems from a conscientious move towards brand development while lowering discount levels, which could lead to a stronger and more loyal customer base. Plus, improvements in product sourcing have likely contributed to this enhanced profitability.
Looking ahead into the new financial year, Weird Fish appears to be on solid ground, with trading performance in line with management’s expectations. The company plans to open 10 additional stores and 15 concessions, boosting its total portfolio to 35 sites across the UK. This isn’t just growth for growth’s sake, but a meticulously planned strategy aimed at strengthening their retail presence across the country.
Butler’s commitment is unwavering: “We have strengthened our retail presence across the UK with a strategically focused physical expansion, opening six new retail stores and twenty-eight concessions during 2024.” This level of expansion speaks volumes about the trust the company places in its vision for future growth.
In January, Weird Fish also reported a solid 9% increase in Christmas sales, reaching £11.4 million. This surge was fueled by fruitful third-party partnerships, new store openings, and an enhanced product offering—indications that the brand is not just keeping up, but actively shaping the retail landscape.
Every number tells a story, and in the case of Weird Fish, it’s a tale of resilience, strategic foresight, and a deep understanding of what consumers want. The future looks bright, and it seems this innovative brand is just getting started. As they continue to invest in their stores and maintain a disciplined approach to margins, one can only anticipate what exciting developments lay ahead.
Image Source: WeirdFish.co.uk
