Companies

C & J Clark International recorded a decline in sales and profits in 2022

Oct 4, 2023 United Kingdom

The operating subsidiary of the British footwear retailer Clarks saw its turnover and profits fall last calendar year due to supply chain issues following the COVID-19 pandemic

The company's turnover for the 48 weeks from the 30^th of January to the 31^st of December declined by 2% to 502.8 million British pounds (580.2 million euros) from the 511.9 million British pounds (590.7 million euros) registered a year earlier. C & J Clark International also posted a post-tax decrease to 22.6 million British pounds (26.1 million euros) from 31.5 million British pounds (36.4 million euros) in the same period of 2021.

“The impacts of the Covid-19 pandemic have largely lifted…. However, the surge in post-pandemic demand could not be met due to global supply issues in the first half of 2022 which resulted in late delivery of product, intermittent quality issues and reduced availability of stock”, said the company in a statement.

C & J Clark International added that in the second half of 2022, direct-to-consumer trade in the UK also suffered from the cost-of-living crises and soaring inflation, which resulted in “more price-sensitive consumer behaviour”, leading the company to increase its promotional activity.

The company is the unit of the Clarks group that manages the activities in the UK, the wholesale business in Asia and some of the wholesale operations in Europe.

1 British pound = 1.15 euros

Image Credits: www.lanescarlisle.co.uk

United Kingdom Clarks Companies Footwear Results Retail