Smiggle brought in some amazing sales and profits in its UK operations last year, thanks to an ambitious expansion scheme and soaring online sales.
There were accounts filed at Companies House that shows Smiggle recorded a 92 per cent increase in revenues to £55.7 million in the year to July 2017.
Also, pre-tax profit rose from £3.8 million to £10.8 million, which John Cheston (Smiggle group managing director) said was driven by online sales.
Smiggle currently has roughly 130 UK outlets, including its recently-opened Oxford Street flagship in London.
The retailer had been targeting 200 stores in the UK as part of efforts to hit AUD $200 million (£112 million) in revenue by 2019, but Cheston told Press Association that the company may now not need that many.
He cited the growth of Smiggle’s online arm as well as the caution felt as a result of the recent spate of CVAs from various household retail names as reasons why.
