Iconic fashion brand Paul Smith has seen its turnover drop 8 per cent to £181.2m in the year to 30 June 2025, down from £197.8m. It recorded an operating loss of £10.8m during the period, which the Directors are attributing to changes in licensing agreements and weaker wholesale trading. Overall retail and eCommerce sales fell by 3 per cent to £102.6m. But online trading revenue rose by 14 per cent, up from 25 per cent, and now accounts for around 41 per cent of retail sales.
A strategic review of the business is now underway as directors look to improve profitability.
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