Shoe specialist Charles Clinkard has reported a 39 per cent drop in revenues to year ended January 30th, ’21 reflecting the impact that lockdowns had on its 40 stores and concessions. Sales came in at £23.9 million against £39.3 million for the previous year. The business did well online during the period.
Group FD Jonathan Mankin said: “Whilst our online sales stood up robustly in challenging times, closure of shops for long periods due to Covid-19 meant that total turnover in the year fell to £23.9m (£39.3m). The loss before tax was £2.5m (2020: pforit of £1.3m), after charging additional dilapidation and onerous lease provisions of £1m.
“Despite the welcome receipt of furlough and other grant income from the UK government in the amount of £2.5m, cash outflow from operating activities amounted to £2.4m. Since the year-end the shops have reopened, online sales remain strong, and in the first five months of the new financial year, the group has returned to profitability.
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