“Significant stress” forces Clarks into store closures

Clarks

Widening losses and a sharp fall in sales have prompted Clarks to warn that it is under “significant stress” and will make a “meaningful” number of store closures.

The shoe retailer’s latest accounts reveal that losses widened to £82.9 million in the year to February 2, from £31 million previously. Sales fell by 6 per cent to £1.47 billion as it sold 20 million pairs of shoes last year, two million fewer than the year before.

Read the full article on The Times.