Bestseller Boosts Growth: Sales Surge 6.8% and Profits Climb 16% in Latest Fiscal Year

Bestseller closes a year on the rise. The Danish retail giant, owner of brands such as Jack&Jones, Vero Moda, Name it, or since recently, also Topshop and Balmohk, has concluded its fiscal year 2024 (period ended July 31st) with an increase in sales and surpassing the previous year’s earnings. The company today published its annual report for the year, in which the company’s turnover returned to growth compared to the previous year, compared to the decline it posted in 2023.

Specifically, the Danish group closed the year with sales of 38,074 million Danish kroner ($5.921 billion), 6.8% more than in the same period of the previous year. Bestseller has thus surpassed the turnover recorded in 2022, the highest to date, which stood at 37,013 million kronor ($5,756 million).

Profit before tax, meanwhile, came in at 5,933 million kronor ($922.7 million), up 12% from a year ago. The company also managed to raise its gross margin to 54.1%, almost one percentage point higher than the previous year.

Bestseller has increased its growth rate compared to the previous year

At year-end 2024, Bestseller earned 4,579 million kronor ($712 million), another 16.4% more than in the previous year. Thegroup, which is enlarging its portfolio through both acquisitions and new brand launches, has accelerated the rise in profits over the previous year: in 2023, the Danish giant reduced sales by 4%, but managed to increase profits for the period, up 8% year-on-year.

By markets, Europe, excluding Denmark, concentrates the bulk of the giant’s sales with a turnover of 33,493 million kronor ($5,209 million), up 8.3% on the previous year. This was, in fact, the only geographical area in which Bestseller’s sales rose, with year-on-year declines of 2.6% in Denmark and 3.4% in the rest of the world. Bestseller’s sales at the end of the period were 1,892 million kronor ($294.2 million) and 2,689 million kronor ($418.2 million), respectively.

The company celebrated 50 years since its founding this year and is currently in a period of expansion. Following the purchase of Topshop just over a year ago, the Danish giant has begun to relaunch the brand in different European markets, including Spain. In addition, Bestseller has also ventured with the creation of a new brand, Balmohk, aimed at a younger audience and that will be managed, for the moment, from Madrid.