// Thomas Pink full-year operating losses reach £23.5m
// Turnover falls 41.6% to £15.4m in the same period
// Gross profit rises 91% to £14.5m
Thomas Pink has reported that its operating losses widened by 20 per cent to £23.5 million in the year to December 31 last year.
Turnover decreased by 41.6 per cent to £15.4 million in the same period, while gross profit increased by 91 per cent to £14.5 million.
In late 2018, the menswear retailer relaunched its brand, and “as a result, turnover for 2018 only benefited from six weeks of the new strategy”.
READ MORE: Thomas Pink completes rebrand to Pink Shirtmaker
As part of the relaunch, Thomas Pink pledged to deliver the “highest levels of product quality”, “exceptional” client experience, assess store profitability, and open an internal shirt production facility in London.
In April this year, Thomas Pink rebranded to Pink Shirtmaker, and said it is repositioning as a more upmarket brand.
The retailer is owned by LVMH, which also owns Louis Vuitton, Dior and Fendi.
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2 Comments. Leave new
No wonder Thomas Pink is in trouble. Formerly women’s shirts and blouses were of excellent quality style and fit. Placing women in men’s poor quality shirts was a really bad move: wrong fit, wrong cloth and wrong to button up as a man. Suddenly cheaply put together but still at a high quality price.
Thanks Susan. My husband and I wore Thomas Pink for many years and I was about to fit my daughter out in some shirts. I was confused by the new ‘women under men’ (literally and figuratively I guess) ethos, and am glad to have checked the comments section.
Very disappointed. Many thanks.