AllSaints has a battle ahead after it was reported this week that full year profits had fallen by more than half.
Underlying profits at the fashion retailer dropped from £26 million to £10.6 million in the year to February 2018, according to The Times.
The firm cited property write-offs and weaker in-store sales behind the loss.
There are still signs of hope for the retailer, which posted an eight per cent rise in sales across the financial year, up to £327 million, thanks to online customers and its Asian expansion.
Newly-installed chief executive Peter Wood will now be faced with balancing the retailer’s profit loss with AllSaint’s fledgling overseas business, where the retailer generates almost half of its sales.
Click here to sign up to Retail Gazette‘s free daily email newsletter
