×
72 527
Fashion Jobs
BANANA REPUBLIC
General Manager - Tampa Premium Outlets
Permanent · LUTZ
CROCS
Crocs: sr. HR Systems Manager
Permanent · REMOTE
NORDSTROM
Asset Protection - Agent - Oakridge Rack
Permanent · San Jose
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Forest Park
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Schaumburg
NIKE
Consumer Planner, Global Sports Apparel
Permanent · Beaverton
BLOOMINGDALE'S
Manager, Sales - Luxury Textiles And Corporate Services
Permanent · New York
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time - Dolphin Mall
Permanent · Miami
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Soho
Permanent · New York
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Palm Beach Garden
Permanent · Palm Beach Gardens
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Norwalk
Permanent · Norwalk
BLOOMINGDALE'S
Asset Protection Detective, Part Time - ny 59th st
Permanent · New York
MACY'S
Asset Protection Captain, Santa Maria Town Center - Full Time
Permanent · Santa Maria
MACY'S
Asset Protection Detective, Arden Fair - Full Time
Permanent · Sacramento
MACY'S
Asset Protection Detective, Boston - Full Time
Permanent · Suffolk
MACY'S
Asset Protection Detective, West Dade Miami Int'l - Full Time
Permanent · Miami
MACY'S
Asset Protection Detective, State Street - Full Time
Permanent · Chicago
MACY'S
Asset Protection Detective, st Louis Galleria - Full Time
Permanent · Old Saint Louis
MACY'S
Asset Protection Detective, Dayton Mall - Full Time
Permanent · Dayton
DESIGNER BRANDS
Merchandise Planner Wholesale, Vmi (Phoenix, az)
Permanent · Columbus
UNDER ARMOUR
Stock Teammate, Part-Time 6am Shift, $15 Per Hour
Permanent · JACKSON
PHV
Configuration Warehouse Supervisor ii
Permanent · Palmetto
Published
Nov 3, 2022
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Clarks recovers in latest year as UK, Europe and US sales improve

Published
Nov 3, 2022

The latest financial year was a period of “recovery and repositioning” for British footwear brand Clarks, as it rebuilt its business under new owners and swung back to a profit following losses in the previous year.


Clarks Originals



C&J Clark (No1) Limited has filed its accounts for the 52 weeks to the end of January, and said that while it was still being impeded by the ongoing impacts of the pandemic — especially on the global supply chain — turnover still grew.

It rose to £920.3 million from £775 million a year earlier and profitability "turned around significantly" with profit before interest and tax of £59.6 million, compared to a loss of £162.6 million in the previous year. Net profit was £55.4 million, up from a loss of £180.2 million in the previous year.

It achieved this through the combination of its increased turnover, margin improvements as it reduced discounting, a beneficial change in the product and channel mix, a reduction in overhead costs, and a reduction in one-off costs.

The investment by parent company LionRock was completed in February 2021, with it becoming the controlling shareholder, owning 51% of the company. Its investment also provided the business with £100 million of additional liquidity.

Looking at the year’s performance in more detail, the company said that the Americas and the UK/Republic of Ireland markets saw steady recovery with consumer demand growing, and the strongest recovery being in direct-to-consumer channels.

In fact, UK and Ireland turnover rose 20.6% at constant exchange rates as the high street recovered from the impact of lockdowns. However, footfall remained an issue as consumers stayed cautious.

Turnover in the Americas increased 32.3% at constant exchange rates with strong performances across wholesale, outlet and full-price stores and a significant increase in consumer demand.

In EMEA, turnover rose 16.4%, although the company saw a difficult trading environment in some areas, especially in the first half due to local lockdowns.

The performance across Asia Pacific varied with an overall positive result of 4.1% higher turnover. Greater China felt the impact of a general e-commerce decline in the second half and markets across India and Southeast Asia were also impacted during the half by new Covid variants.

LOOKING AHEAD

The plan is now to return turnover to its pre-pandemic levels over the next three years under new CEO Jonathan Ram who joined in April. 

The company said it's continuing its recovery from the pandemic, although the extra inflationary pressure caused by the war in Ukraine could impact consumer demand and global costs. But this is being monitored, closely and mitigating action is being considered.

Yet it remains confident in its overall five-pillar strategy. 

This includes targeting China, which currently accounts for less than 10% of turnover, while its competitors are in the 20%-30% range.

It also said that reinstating brand, demand and desire in its domestic UK market is “mission-critical” and will be achieved through improvements to the store estate, product evolution, and marketing to win over new consumers and recover lost ones.

It also aims to deepen its market strength in the US by rebalancing the product and category offer, as well as targeting new business across all channels and boosting its digital offer.

The fourth pillar is to reinvigorate its brand and products, and the fifth is to accelerate digital penetration overall, and make it a higher percentage of its global turnover. As those other brand pillars suggest, the focus here will be on the key markets of the UK, US and China.

Copyright © 2023 FashionNetwork.com All rights reserved.