Monsoon Accessorize owner reports return to profit and continued growth for 2025

Adena Brands has released its annual results with the owner of Monsoon, Accessorize and East reporting “a significant improvement in its trading performance”.

The year to the end of August saw a return to profitability, despite “the continuing challenging trading conditions in the UK high street and the increase in costs, especially the rise in employers’ National Insurance contributions”.

Sales rose 3.7% to £212.2 million and EBITDA rose by £10.4 million to £8 million as the company swung from a loss of £2.4 million a year earlier to a healthy profit this time. The pre-tax profit picture looked stronger too although in this case, the latest figure was a positive £1 million after a loss of £7.5 million the year before.

Importantly, the group’s cash position strengthened, with cash reserves rising to £16.7 million from £14.9 million by year end and the company finished the year debt-free.

The firm also said the complete results for the wider group companies, including Adena Brands Ltd as well as its affiliate Middle-East venture, were sales of £227.8 million, EBITDA of £9.1 million and cash of £17.9 million.

So how did the individual parts of the business perform? The core Accessorize retail business “once again showed solid growth, with positive like-for-likes and successful new store openings”. Meanwhile the Monsoon digital business “made significant gains, with more productive digital marketing spend and strong third-party marketplace growth”. 

The group also “successfully addressed a number of underperforming areas during the year” and Monsoon’s retail profitability improved. Monsoon childrenswear returned to growth and the international business “made progress” after the recent changes made in Italy and Saudi Arabia.

The company didn’t give specific figures for either Accessorize or Monsoon’s performances and it didn’t offer any info about East either. 

But it said it continued to invest in both its store estate and digital presence. It opened 14 new stores in the UK and refitted eight, so the vast majority of the store portfolio has now been refitted in the past five years. And it has completed a wide-ranging technology upgrade, moving its systems into the cloud, investing in new commercial tools and reinforcing its cyber security.

CEO Nick Stowe called it “an encouraging performance, despite the many headwinds we have been facing into, especially cost pressures and increased taxation. It has been possible thanks to the investment programme in our stores and systems that we have pursued in the past five years, and the dedication and hard work of my colleagues.”