For the year to 31st March 2019, Missguided has posted a drop in revenues to £187 million from £216 million in the previous year but had significantly reduced its losses. During the period it had closed its Westfield Stratford store and will be pulling out of Bluewater for which it had negotiated an improved short term lease. The business has concluded that it cannot operate stores profitably and will do better to focus its efforts online and on wholesale trade development.
Missguided’s wholesale business achieved growth during the year, whilst inventory management controls were strengthened. Having cut back its marketing spend and focused on selling past seasons’ stock, the business is now poised to increase its marketing budget and proceed to target profitable growth.
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