Sales declined at Russell & Bromley for the year to December 31st 2017. At £100.6 million this was 6.2 per cent down on the previous year and resulted in a 63 per cent fall in operating profits which came in at £6.6 million. The long established retail has been working to shed unprofitable stores and has already shuttered those in Bournemouth, Salisbury, Bromley as well as its children’s store in Westfield. It will be closing its High Street Kensington branch and its Oxford Street flagship store next.
The retailer cited rising costs and currency headwinds as key factors in its worsening performance. This is the third consecutive year it has reported declining sales and will be difficult to reverse.
Share