Fenwick has suffered widening losses and falling sales in a what is described as an “extremely challenging” year, Retail Week can reveal.
The department store retailer posted a pre-tax loss of £47.3m in the year to January 31, 2020, compared to £44.2m the previous year.
On an operating basis, before exceptional items and changes in property values, Fenwick trimmed its losses from £17.3m last year to £11.8m.
Fenwick’s net sales declined 9% year-on-year to £271.5m and gross margin declined at a similar rate.
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