Decathlon has fallen to a loss in its full-year as competition from supermarkets hampered its like-for-like sales.
The sporting goods specialist posted a pre-tax loss of £8.4m in the year to December 31 2017, down from a profit of £804,000 the previous year.
The retailer, which unveiled a £14m upgrade of its Surrey Quays flagship earlier this year, reported a 28% increase in revenue during the period driven by reduced prices and opening seven new stores.
Like-for-like sales in the year fell 16%, hampered by a poor second half, which the retailer attributed to “Brexit and a difficult retail environment”.
In a filing made at Companies House, Decathlon said because “supermarkets are devoting more floor space to non-food items” the retailer was operating “in a highly competitive market particularly around price”.
The privately owned retailer ended its financial year with 42 stores in the UK out of its 1,000-strong international estate, a UK number which it has ambitions to increase to 300 over the next 10 years.
No comments yet