M&Co profits fall as ‘unprecedented trading challenges’ bite
M&Co has posted a fall in annual earnings after confronting “unprecedented trading challenges”.
M&Co chief executive Andy McGeoch said however that the retailer has a “robust blueprint” for long-term growth.
The value fashion specialist reported a fall in EBITDA from £10.8m to £8.7m in the year to February, when total sales across all channels slipped 4.1% to £202.8m. Store-like-for-likes declined but online sales advanced 2%. Operating profit before exceptionals fell from £6m to £3.6m.
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