Peter Alexander’s 2020 growth plan is progressing well ahead of expectations, with product extensions driving sales across the brand.
The sleepwear retailer expects annual sales to exceed $250 million by FY20.
Peter Alexander delivered record sales for FY18 of $218.7 million, up 14.5% on FY17 and up 31% over two years.
The expanded range of P.A. Plus size delivered a staggering 100% growth for the year.
The full Peter Alexander Bath & Body range was launched successfully in April 2018.
Parent company Premier Investments, which also owns profitable stationary business Smiggle, praised the result.
Premier Retail CEO Mark McInnes said Peter Alexander was well positioned for further growth.
“We have seen significant growth of our unique brands Smiggle and Peter Alexander which benefit from inhouse design, research and constant innovation.
"We will continue to invest in these businesses and grow them aggressively."
Peter Alexander opened 21 new stores in FY18 – putting the brand ahead of the 2020 plan to open 40 new stores between FY18 and FY20.
Five new stores are confirmed for opening in 1H19.