The Clinkard Group says it is confident for the future after bouncing back into profit in its latest financial results.
The Middlesbrough-based shoe seller, which was established 96 years ago through one store in the town, operates as a store and online retailer with around 40 海角视频 shops and concessions. It also acts as a wholesale agent for a number of European footwear brands.
Now the group has filed results for the year ending January 29 2022, showing sales growth of 29%, with turnover rising from £23.9m to £30.8m. The group also returned to operating profit of £1.4m, up from a £2.43m loss in the prior year. Operating income included £488,000 of furlough and other Government grant income of £658,000 received as a result of Covid-19.
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In the group’s accounts, finance director Jonathan Mankin said: “The key challenge is to be in the right location, with the right product and have the ability to respond quickly to the changes in retail. The focus going forward continues to be on multi-channel retailing ensuring all formats, online and in store, are fully integrated to ensure the customers’ needs are fully met.
“The business has returned to profit following the challenging conditions in 2021 when Covid 19 caused the closure of the shops for long periods. There has been a positive start to the new financial year and the directors are confident that the group will remain profitable for the rest of the financial year.”
The company, which sells brands including which sells brands including Skechers, Gabor, London Fly, Josef Seibel, Geox and Barbour, says it now employs more than 480 people, up from the average of 419 employed durinhg the year.
Looking ahead, Tim Payne, managing director of retail at The Clinkard Group, said the business must remain agile. He said: “We are confident that the business will remain profitable for the rest of the new financial year after a positive first half of 2022.
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“Online sales helped us navigate through the pandemic and while our main challenge has traditionally been to be in the right location, we now need to take into consideration post-pandemic habits and adjust our strategy accordingly. The business must remain agile in order to respond quickly to changing trends in retail and stay ahead of what our customers expect and need.
"As a business we have almost 100 years of knowledge and want to give everyone the tools to make informed decisions about their purchases, however and wherever they choose to shop with us. Our focus for the future is integrating our multi-channel offering, ensuring that whether a customer visits us in-store or online, they receive a consistently high-level of care, knowledge and expertise.
“Our people have always been our biggest asset and these results are a testament to the skill and hard work of our colleagues across the business. We actively engage our people to better understand their values and what drives them and we will continue to ensure they can gain experience and knowledge through attractive employment policies, training programmes and incentive schemes.”
Finance director Jonathan Mankin added: “The Clinkard Group are delighted to return to profit despite the challenges that were faced in 2021. We are in a strong cash position, and despite the current conditions we are feeling positive that the financial year ahead will be a success.”
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