River Island profit halves as it ramps up investment

River Island prioritised investment over profit last year

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.

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