The U.K.-based athletic apparel and accessories brand had net income of £36,497,000 ($51.0 mm) in the fiscal year ended Jul. 31, 2021, up 47% from £24,792,000 prior, as revenues gained 54% to £401,946,000 ($562.2 mm) from £260,674,000. The report for FY21 was just filed with Companies House, that country’s official registrar of LLPs and limited companies. Gross margin expanded 13 basis points to 70.4%, while a 57% increase in distribution costs and 60% growth in administrative costs sent SG&A up 59% in pounds, deleveraging 170 b.p. as a percent of sales.

Sales to the U.S., Gymshark’s largest market, increased 53% to ... Log in to view full article.