// 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”.
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.