×
68 618
Fashion Jobs
MICHAEL KORS
pt Sales Supervisor, Lakeside - Metairie, la
Permanent · New Orleans
GAP INC.
Project Manager People Services And Operations
Permanent · San Francisco
NORDSTROM
Manager, Technical Program Management - Digital Commerce Experience
Permanent · Seattle
NORDSTROM
Manager, Technical Program Management
Permanent · Seattle
NORDSTROM
Senior Operations Manager, Portland Distribution Center
Permanent · Portland
NORDSTROM
Technical Program Manager Senior - Inventory Ordering
Permanent · Seattle
NORDSTROM
Asset Protection - Agent - Outlets at Orange Rack
Permanent · Orange
NORDSTROM
Program Manager 2 - Credit Strategy - Remote
Permanent · Centennial
SALLY BEAUTY CORPORATE
Digital Operations Manager
Permanent · Denton
SALLY BEAUTY CORPORATE
Warehouse Supervisor
Permanent · Columbus
SALLY BEAUTY CORPORATE
District Manager
Permanent · Toledo
ROSS STORES
Business Solutions Specialist
Permanent · Carlisle
ROSS STORES
Manager, Corporate Security - Fire/Life Safety
Permanent · Dublin
ROSS STORES
Specialist, Import Customs Compliance
Permanent · New York
ALL SAINTS
Junior CRM Executive
Permanent · New York
ALL SAINTS
Senior Business Analyst
Permanent · New York
ALL SAINTS
Stock Manager - ny 5th Avenue
Permanent · New York
ALL SAINTS
Wholesale Account Executive - Menswear
Permanent · New York
ALL SAINTS
Distribution Centre Supervisor
Permanent · New York
ALL SAINTS
Warehouse Operative
Permanent · New York
NORDSTROM
Senior Business Analyst – Nordstrom.Com Program Strategy & Planning Team Digital Merchandising & Marketing
Permanent · Seattle
NORDSTROM
Asset Protection - Agent - la Jolla University Town Center
Permanent · San Diego
Published
Dec 13, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Covid dents Tory Burch UK as sales plummet

Published
Dec 13, 2021

Tory Burch UK has filed its results for the year to January 2021 and the business saw a devastating fall in sales from £24.96 million in 2019 down to just £10.02 million in 2020.


Tory Burch - Spring-Summer2020 - Womenswear - New York - © PixelFormula



The company has four UK stores and two in Germany (including an outlet store in each market) and both of those countries had quite strict Covid regulations during the financial period these results cover. In the UK, for instance, there were two major lockdowns covering multiple months in which non-essential stores kept their doors firmly closed. But restrictions on socialising, holidays and special occasions would also have dented sales from the label even when the stores were allowed to open. The brand has a heavy focus on occasion and vacation dressing that would have fallen flat during the loungewear-focused year.

It all meant that the company made a net loss of £852,612, wider than the loss of £654,250 from the previous financial year. The operating loss was just over £925,000 compared to an operating profit of almost £609,000 in the previous year

But the firm said that its parent company, Tory Burch LLC, "has provided a letter of support in which the company commits to support the group financially”. In the event of operating losses the parent company will provide the support to ensure its continued operation.

2020 was clearly a difficult year for the business and would have been a disappointing one too as it came after the company had seen sales growth of more than 3% in the previous year. The sales decline of almost 60% this time was unavoidable given the pandemic and the radical change in consumer shopping patterns.

Despite its Covid woes, the parent company continues to expand internationally. In the last year it opened its first Melbourne boutique, and its first Indian store (in New Delhi) under its deal with Reliance Brands. And in the summer, it opened a new flagship in New York on Mercer Street.

Copyright © 2022 FashionNetwork.com All rights reserved.