Major high street brand cuts 1,200 jobs as sales fall by nearly £100million – with firm blaming ‘challenging market conditions’
A large street brand has reduced more than 1,200 jobs as its sales fell about 100 million £.
Clarks blamed ‘challenging market conditions’ during the last financial year for personnel deductions.
The shoe retailer reported an revenue of £ 901.3 million from £ 2024 in 2024 to 2024.
The new accounts show that Clarks fell from 7,413 to 6.161 in 12 months, and that 39.2 million £ £ 39.2 million damages.
The last open comes after Clarks fell into a pre -tax damage in the previous 12 months.
Clarks recently reported a total of £ 35.9 million until the end of 2022 for the last 48 weeks.
In their latest accounts, the company said that the results were significantly affected by storing the assets and property, facilities and equipment of £ 32.1 million.
‘The focal point is to return to sustainable sales growth when combined with a cost -oriented attitude to healthy store profitability in 2025’.
A large street brand has reduced more than 1,200 jobs because its sales dropped about 100 million
Clarks blamed ‘challenging market conditions’ during the last fiscal year for personnel interruptions
Clarks, former General Manager Jon Ram, has been ruled by a temporary executive committee since he resigned in April 2024 two years later.
A statement from the Board reads: ‘2024 was a transition year in business because internal and external factors created various difficulties.
‘We faced challenging global market conditions from outside.
“ The United States, the United Kingdom, India, the European Union, and a few developing markets, businesses and consumers in countries such as large number of major elections, potential changes in trade policies, regulatory frameworks and financial strategies have faced uncertainty.
‘This had a significant impact on the economy, increased volatility in financial markets, affected investment decisions and shaped economic policies.
‘This, which came behind the ongoing major conflicts and inflationary pressures, caused a decrease in consumer demand in 2024.
Therefore, FY24 has been a year of tradition for the Clarks group with cost rationalization and reduction to correct the foundations for our future.
‘For the current business size, significant changes in the overall cost costs have been made in the right size, focusing on the marketing approach, re -positioning product diversity, and in 2025, he established business for rescue and sustainable profitable growth.’
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