Clarks sales slip as supply chain issues take their toll
British footwear retailer Clarks has posted a decline in profits after tax and turnover for the 48 weeks to December 2022 as supply chain issues took a toll on trading.
Clarks reported operating profit of £31.7m for the 48 weeks to December 31, 2022, up 53% compared with the 52 weeks to January 29, 2022, while profit after tax was down 28% at a total of £22.6m.
The retailer posted a 2% decline in turnover from £511.9m to £502.8m, which Clarks attributed to being unable to fulfil the post-pandemic surge in demand as a result of global supply chain issues during the first half of the year.
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