82 871
Fashion Jobs
SALLY BEAUTY CORPORATE
IT Senior Manager
Permanent · DENTON
HAND & STONE
Assistant Spa Manager - Apex
Permanent · APEX
HAND & STONE
Assistant Spa Manager - Voorhees
Permanent · VOORHEES TOWNSHIP
HAND & STONE
Assistant Spa Manager - Brentwood
Permanent · BRENTWOOD
HAND & STONE
Assistant Spa Manager - Princeton
Permanent · PRINCETON
HAND & STONE
Assistant Spa Manager - South Park
Permanent · CHARLOTTE
HAND & STONE
Assistant Spa Manager - Camp Hill
Permanent · CAMP HILL
HAND & STONE
Assistant Spa Manager - Chantilly
Permanent · FAIRFAX
HAND & STONE
Assistant Spa Manager - Gaithersburg
Permanent · GAITHERSBURG
HAND & STONE
Assistant Spa Manager - Medford
Permanent · MEDFORD
HAND & STONE
Sales Manager - Winston-Salem
Permanent · WINSTON-SALEM
HAND & STONE
Assistant Spa Manager - Severna Park
Permanent · SEVERNA PARK
HAND & STONE
Assistant Spa Manager - Langhorne
Permanent · LANGHORNE
HAND & STONE
Assistant Spa Manager - Timonium
Permanent · TIMONIUM
HAND & STONE
Assistant Spa Manager - Newtown Square
Permanent · EDGMONT
HAND & STONE
Assistant Spa Manager - Falls Church
Permanent · FALLS CHURCH
HAND & STONE
Assistant Spa Manager - Reston
Permanent · RESTON
HAND & STONE
Assistant Spa Manager - Ocean Township
Permanent · OCEAN TOWNSHIP
HAND & STONE
Spa Director
Permanent · CHERRY HILL
HAND & STONE
Assistant Spa Manager - Franklin
Permanent · FRANKLIN
HAND & STONE
Assistant Spa Manager - Kirkwood
Permanent · WILMINGTON
HAND & STONE
Assistant Spa Manager - East Brunswick
Permanent · EAST BRUNSWICK
Published
Jan 5, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Forever 21 struggles in UK, margins suffer

Published
Jan 5, 2018

US fast-fashion chain Forever 21 is having a tough time in Europe at present and has downsized its UK store estate on the back of the tough trading environment in Britain.


Forever 21


The company is also reported to be closing a number of European stores, including Amsterdam and Dublin, and is closing sites in its domestic North American market too. Next on the list is the downtown Vancouver location, which shuts in just over a week’s time.

It’s unclear whether there will be further UK store closures with the firm currently operating only three sites in England.

The company’s latest set of accounts shows that it has struggled in Britain. In late December it filed accounts for the year to February 2016, which might be frustratingly late for anyone trying to analyse its current performance, but still gives some clues to how it has been doing.

In that 12-month period it saw its its post-tax loss surging by 75% to £29 million from £16.6 million due partly to one-off costs during the period. Turnover from continuing operations fell to £46.05 million from £53.86 million, “primarily due to higher pricing markdowns and reduced customer traffic to the stores.” That trend continued into the next year, it said. Trading margins also declined to 45% from 46% due to “unfavourable developments in the supply chain”.

The company had closed one store during the year and has since closed sites in key shopping destinations including Stratford, Bluewater and Glasgow. It now lists only three UK stores on its website (Oxford Street, Liverpool and Birmingham’s Bullring).

Copyright © 2024 FashionNetwork.com All rights reserved.