Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Aquascutum profits hit by weak pound

Aquascutum’s gross profit fell by 9.2% to £3.7m in the year to 31 March 2017, impacted by the drop in the value of sterling.

The British brand’s gross profit margin fell 1.2%, according to documents filed at Companies House. It said it has “taken action on both pricing and purchase costs to ensure we manage the situation properly”.

Turnover dipped by 5% to £12.5m as a result of a planned store closure program, including the withdrawal of all concessions from House of Fraser stores. Retail made up £7.4m of sales (60%) and wholesale £5m (40%).

However, it narrowed its operating losses to £4.8m, down from £6.7m the year before.

Aquascutum was acquired by Jining Ruyi Investment Co, a holding company of China’s Shandong Ruyi Technology Group, for $117m (£95m) in March. 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.