// Barbour forced to raise prices as production costs soar
// Despite “buoyant” sales, the retailer is facing “extraordinary challenges”
Barbour has been forced to raise prices as production costs soar and consumer spending slows down.
Despite “buoyant” sales, the retailer is facing “extraordinary challenges” having to contend with higher inflation and the cost-of living crisis.
Managing director Steve Buck said Barbour was facing a combination of price increases across materials, staffing, shipping, and energy as well as higher duty costs, The Telegraph reported.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
“The fiscal year 2022/23 will see some extraordinary challenges for our business. The ongoing impact of the pandemic, Brexit and the current global economic uncertainty has resulted in many challenges to margins across all channels and markets including rising costs and pricing pressures.
“We’ve had to increase some of our prices, but being very mindful of what many of our customers are experiencing, we have only passed on half of the cost increase in price.”
The company said sales grew by 32% to £286.6m in the year to April 2022, as it began to recover from the effects of severe lockdowns.
“We have felt the challenge of the cost-of-living crisis most in the UK and less so across Europe and Asia,” Buck said.
“Customers are being careful with their money but are continuing to buy good-quality investment pieces. Because of this, our sales, particularly in wax jackets have continued to remain buoyant.”
