Heritage retailer Hunter saw both sales and profits decline in 2016 as its US wholesale division was “impacted by broader challenges”.
Sales saw a nearly 10 per cent drop to £102.9 million, down from £113.7 million a year earlier.
Profits fared worse, dropping over a third from £14.1 million to £9.2 million, the second consecutive year of decline for the retailer.
The designer welly boots brand stated that its figures were in line with expectations and remained optimistic about the year ahead, hailing investment in new products and “direct to consumer” operations as the driving force.
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“In 2016, we took important steps to put Hunter in the strongest position for future growth by continuing to invest in the organisation and operations,” chief executive Vincent Wauters said.
“We also continue to be focused on ensuring we have the best distribution for our products, which includes diversifying our key wholesale partners and establishing a balanced and scalable direct to consumer platform to realise Hunter’s true potential as a global lifestyle brand.
“As a result, we see positive revenue growth and a strong order book in 2017. Our ecommerce is trading up in 2017 across all markets.
“Apparel and bag sales have more than doubled compared to 2016. Our retail stores are also performing well, with particularly strong results in our Regent Street flagship in London.”
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