Big fall in Country Casuals sales
Austin Reed has warned of tough trading amid slumping sales of its Country Casuals brand.

In the 28 weeks to August 13, group turnover dropped to£52.4 million. And, although pre-tax losses were down on last year's£2.8 million, the group incurred a pre-tax loss this year of£1.1 million.

Chief executive Nick Hollingworth said: 'We have started the second half in better shape, but current trading is difficult and we expect consumer demand to remain subdued for the remainder of the year.'

In the first seven weeks to October 1, Austin Reed's total sales were down by 1 per cent. In the same period, sales of the group's Country Casuals brand fell 20 per cent in total and 15 per cent on a like-for-like basis.

The group plans to re-brand Country Casuals in an effort to contemporise and reposition the offer.

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