A homeware and fashion retailer has reported a drop in UK sales for the year ending 31 December 2024, despite achieving a return to profitability.
Total sales fell by 5.7% to £62.6m, compared to £66.4m in the previous year. The performance was affected across key categories, with home products down 6.6%, apparel decreasing by 3.9%, and financial services revenue falling by 14.1%.
Gross margin saw a slight reduction of 0.1%, ending the year at 49.4%.
La Redoute, the French brand behind the figures, posted a pre-tax profit of £642,000, a significant improvement from the £430,000 loss recorded in 2023. The company highlighted the challenges faced in its product segments, but also the steps taken to stabilise operations and improve financial results.
Source: www.bigfurnituregroup.com