River Island, which has labelled 2023 as a year of reset, has posted a pre-tax loss of £32.2m on sales of £701.5m for the year to December 30th, ’24. This compares with a profit of £7.5m on sales of £825.8m for the year prior. The fashion business which is still privately owned has 250 stores across the UK.
In a statement, the business said: “The business has invested in customer proposition – with stronger product ranges, an enhanced shopping environment in stores and an elevated digital experience.
“The business is now starting to see the benefits from the investment. Customers are reacting positively and that is delivering improved business performance. Despite the challenging trading environment so far this year we remain positive about the outlook.”
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