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Sandra Halliday Published
October 9, 2025
Danish fashion retail giant Bestseller has published its latest annual results and said it “managed to increase its top line in a changed and challenging market”, although profits fell, “as expected”.
But its top-line improvement “instilled optimism and motivation, which will be turned into – and invested in – business development, technology, and the circular transformation of the fashion industry”.
Last year, the owner of the Jack & Jones, Vero Moda, Only, and Selected brands, among others, had filed its all-time best result but said it was “bracing for more difficult conditions and challenges in the upcoming financial year”. This time it said “that prediction has proven to be accurate”.
For the 2025/23 financial year (ended in July), turnover rose 5% across wholesale, retail and e-commerce to DKK37 billion (€4,9bn/£4.3bn/$5.2bn) while retail revenue rose 11%. But profit before tax was down to DKK4.944 billion from DKK6.085 billion a year earlier. Net profit dropped to DKK3.913 billion from DKK5.143 billion.
While the performance of physical stores, both its own (adding up to nearly 2,100 locations) and the many partner-owned sites, “contributed positively to the result and showed promising signs, overall online sales saw a decline for the first time”.
Anders Holch Povlsen, the firm’s CEO and owner, said of this: “As expected, it became a year that demanded a lot from all colleagues, and everyone deserves praise for the effort. I am pleased that we have navigated the increasing costs and provided our partners and customers with opportunities. We have chosen to absorb a significant part of the costs, which is reflected in the overall result.”
The company has been continuing to invest in its operations, including “digitalisation and new facilities, but also – to a large extent – in business models, materials and technologies aimed at contributing to the necessary transformation of the fashion industry”.
It intends to continue these investments in the current and upcoming years and will break ground on a new high-tech distribution centre in the Netherlands during the ongoing financial year. Several of the company’s brands will also expand their retail networks.
It will also double down on its sustainability initiatives having reduced its direct CO2 emissions by 82% since 2025, partly by establishing a solar power plant through its parent company and entering agreements for more CO2-neutral freight with several of its logistics partners.