Clarks ended financial year 2023 with a net loss of £32,1 million Clarks
06.06.2024 399

Clarks ended financial year 2023 with a net loss of £32,1 million

C&J Clark Limited, the parent company of the British footwear brand Clarks, has published the brand's financial results for 2023. Clarks ended the 2023 financial year with a net loss of £32,1 million, compared with a net profit of £22,4 million in 2022, reports marketingweek.com.

While Clarks' revenue rose from £2023 million to £980,3 million (€994,5 billion) in the twelve months ending at the end of December 1,169, costs were also higher: £513,4 million (603,26. €494,4 million) compared to £580,93 million (€XNUMX million) in the previous financial year.

The company explains the weak financial performance by increased costs (£52,8 million) in the “advertising market” and changed consumer behavior - buyers are looking for discounts and putting pressure on selling prices.

“In addition, pressure on product costs, driven primarily by inflation and exchange rates, resulted in margins in 2023 being lower than expected,” the company's board of directors said in a signed statement.

C&J Clark Limited, the parent company of the British footwear brand Clarks, has published the brand's financial results for 2023. Clarks ended the 2023 financial year with a net loss of £32,1...
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