Scottish clothing and gifts retailer Edinburgh Woollen Mill’s sales slipped to £156.8m from £157.8m in the year to February 27, despite the opening of 21 stores in the year.
Pre-tax profits fell from £23m to £22.5m. The 310-store retailer said any sales growth from new stores was offset by the transfer of its textile business, Ponden Mill, which it acquired in 2008, to subsidiary company Duvetco in February 2009.
In documents filed at Companies House, the retailer said: “The adverse economic situation created a very competitive marketplace.”
Find out more on Edinburgh Woollen Mill at rwkb.retail-week.com