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PRIVACY
Retail & Consumer

Hotter Shoes hails strong first quarter and 'double-digit' sales increase

The company's parent demerged from TGI Fridays earlier this year

Hotter Shoes

Hotter Shoes "performed strongly" during the first three months of its financial year, achieving a "double-digit increase" in sales.

The Skelmersdale-headquartered company added it has also seen an improvement in its gross margin.

The firm's parent, Unbound Group, was admitted to AIM in February after it demerged from TGI Fridays.

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A statement issued to the London Stock Exchange said: "Hotter has performed strongly in Q1, delivering a double-digit increase in revenue against the comparator period last year as well as an improvement in gross margin.

"The company is seeing the benefits of its omnichannel strategy with the performance of the retail estate being especially pleasing.

"The active customer base continues to grow, with Unbound's email database exceeding 1m.

"Hotter has achieved this strong performance despite the macroeconomic backdrop of rising inflation, supply chain challenges and the impact of the Russia / Ukraine conflict.