Profit falls at Clarks despite sales increase - footwearbiz: Leading s

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Profit falls at Clarks despite sales increase

26/05/2017
Profit falls at Clarks despite sales increase
Footwear brand Clarks has reported sales of £1.7 billion for the year to January 31, an 8% increase compared to the previous year. 

The company attributed this growth to favourable exchange rates when selling products overseas.
Despite this increase in sales, Clarks saw its profit fall 43% to £19.9 million amidst efforts to restructure the business and clear excess stock.

The CEO of Clarks, Mike Shearwood, conceded that trading conditions “continued to be difficult”, but said the company had made “very significant progress”. 

Image credit: Messe Dusseldorf.

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