MySale Group has reported record sales and profitability for the half-year to December 31 with recent investment in its buy now, pay later option (called Ourpay) and its other tech updates helping to drive it forward.
It’s always encouraging when a retailer headlines its trading update with words like “record first half” and that’s just what London-listed e-tailer MySale did Thursday, with H1 boosted by its try-before-you-buy offer.
MySale reported rising sales and underlying profits rising even faster for the latest year as new brands and tech kicked in. It made a net loss, but said it's upbeat for the year ahead and its UK business is surging.
Flash sales specialist MySale Group said its “financial performance improved significantly” in the year to June 30 with online revenue up 10% to A$240 million, driven by the growing active customer base.
MySale Group on Thursday announced the acquisition for A$2.69 million, of “certain trade and assets” of Identity Direct, a major international retailer of personalised products that was in administration.
Flash sales specialist MySale should have brought a smile to the face of Sir Philip Green on Wednesday. A day after he paid £363m into the BHS pension fund, Green's investment in the e-tailer appeared to be paying off.