{"id":10297,"date":"2023-09-03T03:29:20","date_gmt":"2023-09-03T03:29:20","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/footasylum-profit-plunges-despite-rise-in-sales\/"},"modified":"2023-09-03T03:29:20","modified_gmt":"2023-09-03T03:29:20","slug":"footasylum-profit-plunges-despite-rise-in-sales","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/footasylum-profit-plunges-despite-rise-in-sales\/","title":{"rendered":"Footasylum profit plunges despite rise in sales"},"content":{"rendered":"

\"Retail<\/a><\/p>
\n<\/p>\n

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\"Footasylum\"<\/div>\n

Footasylum pre-tax profit plummeted 75% to \u00a32.8m in its last financial year, despite an increase in sales at the retailer.<\/p>\n

Operating profit also dropped more than 50% for the full year to 28 January 2023.<\/p>\n

The footwear retailer partially attributed the plunge to the termination of Covid government reliefs that helped the retailer last year.<\/p>\n

Despite the drop, gross profit at the company rose nearly 5%, while year on year sales nudged up 6% thanks to an increase in store sales.<\/p>\n\n

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Gross margin was down by 0.5 basis points, as a result of ongoing cost pressures and supply chain disruptions.<\/p>\n

The sportswear retailer said: \u201cFootasylum is not immune to the widely reported challenges to physical retail in the UK, we remain conscious of the headwinds that prevail at this time including the general macro-economic and geopolitical situation and global inflation\u201d.<\/p>\n

It continued: \u201cFor 2024, the group is planning to increase its store base and store performance, with continued growth in profitability\u201d.<\/p>\n

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\"Retail<\/a><\/p>
<\/p>\n","protected":false},"excerpt":{"rendered":"

Footasylum pre-tax profit plummeted 75% to \u00a32.8m in its last financial year, despite an increase in sales at the retailer. Operating profit also dropped more […]<\/p>\n","protected":false},"author":1,"featured_media":10298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-10297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-magazines"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/10297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=10297"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/10297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/10298"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=10297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=10297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=10297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}