River Island has posted a steep fall in earnings after ploughing cash into improving the business to ensure it is future-fit.
The fashion retailer’s operating profit tumbled from £80.6m to £35.1m last year, Retail Week can reveal.
Money was once again directed to investment in technology and service, as in the previous year, when profits also declined.
Sales dipped to £919.7m from £944.5m in the year to December 29, 2018, when River Island’s online and wholesale operations grew.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.