Clarks’ losses after tax increased in its last financial year, with sales falling and “onerous” leases across its store estate taking their toll.
The footwear retailer report loss after tax of £82.9m for the year to February 2, 2019, deepening from a loss of £31.3m in the previous year.
Group sales also fell to £1.46bn, down from £1.53bn the previous year, while group operating profits plummeted to a loss of £75.7m, from £29.3m profit the previous year.
In his statement, Clarks’ chair Thomas O’Neill blamed an ongoing “climate of uncertainty” on Clarks’ poor results
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