Body Shop is back for good … and back in profit, new boss tells staff
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Ethical beauty chain books £2m profit in first three months after rescue from administration in September. The new boss of the Body Shop has told staff the struggling ethical beauty retailer is “back for good” after it booked a profit in its first 100 days under new ownership.
The retailer was bought out of administration in September by a consortium led by the British cosmetics tycoon Mike Jatania. The company sank into administration in February leading to the closure of 85 UK outlets but is understood to have reported a £2m profit on £28m of sales in the first three months under its new owners, led by Jatania’s Aurea Group.
The retailer is now operating 113 stores in the UK, where it employs more than 1,200 people including at its headquarters, which will be moved to a new building in Brighton next month. Its head office staff were previously split between offices in London and Littlehampton, West Sussex, its long-term base set up by late founder Anita Roddick.
In his final note to staff before Christmas, seen by the Guardian, new chief executive, Charles Denton, said: “I am so thrilled at how we are ending the year. Storm Darragh may have tried its worst, but we weathered it and some.”. Denton, the former Molton Brown chief executive, said the chain had ended last week 17% ahead above internal sales forecasts, adding “throw whatever you like at us, and we’ll come bouncing back … back for good and last month … back in profit baby!”.
The Body Shop, which made a £71m loss in year to December 2022, collapsed into administration in the UK less than three months after it was taken over by German private equity company Aurelius for £207m. It owed creditors more than £276m at the time.
