Adena Brands, which trades as Accessorize and Monsoon has posted falling sales – down from £231m to £204.6m – for the year to 31st August 2024. The business has also reported a pre-tax loss of £7.5m for the year.
This mirrors the fall in demand experienced by many other high street dependent retailers which have been weathering myriad increases in costs during a tough period, with consumers no longer spending freely.
Chief Executive Nick Stowe said: “Last year was a tough year for us and for retail in general. But it is a long game, and we pushed ahead with our plans and investment, and faced into the need to improve our performance in several areas.”
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