JoJo Maman Bébé sales bounce back

By

Sandra Halliday

Published
Feb 26, 2023

JoJo Maman Bébé, the British baby good retailer, saw its sales recovering in the year to June, new accounts filed at Companies House have shown.

As the UK emerged from the pandemic and physical shopping recovered, the 30-year-old company saw its 80 UK and Ireland doors enjoying plenty of consumer interest with the company, calling trading in the year “robust".

Overall turnover rose 13% to £71 million, and turnover in its physical stores increased by £11.7 million. The company was also strong online, although sales here declined by £3.9 million as would be expected at the same time as the return to physical shopping gathered pace.

Online sales settled at 55% of the company's total, compared to 67% in the previous year when there had been more restrictions and consumer caution around physical stores.

The company also operates internationally and sales here increased by 12%.

Gross profit as a percentage of turnover was 57.9%, and while this was good, it will still down from 58.4% in 2021 and 58.5% in the pre-pandemic 2019, financial year. However, it was higher than 2020’s 57.4%. 

EBITDA was £3.85 million, up from £3.41 million a year earlier. But profit on that basis was still below the £4.52 million it made in the year before the pandemic.

Net profit was £1.56 million, lower than the £4.1 million of the previous year.

Revenue boosters during the year included a new footwear collection in collaboration with Start-Rite, and the debut of a personalised gift wrap service, while the company also managed to attract new customers.

The business was acquired in 2022 by a joint-venture that included ambitious retail giant Next. It has a 44% stake in the JV with investor Foxford Capital L5 holding the remaining 56%.