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Clarks blames falling sales on heavy discounting

Footwear retailer Clarks has blamed discounting on the high street and problems with its US business for a fall in sales.

Sales fell 3.2% to £1.49bn in year ended in January 2015, although lower pension and interest costs helped pre-tax profits rise 1.4% to £121.5m, the Telegraph reports.

Sales in the US fell 10.6% and profits by 22.9%.

Chief executive Melissa Potter said it had been a “very challenging year” for Clarks, which has more than 1,000 shops around the world, as the warm autumn weather and Black Friday hit UK sales.

She also blamed damage to a supplier’s factory in Vietnam, which led to a shortage of Clarks Originals shoes and men’s’ Gore-Tex.

Readers' comments (2)

  • Says the main protagonist of high street discounting.

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  • No pun intended, but Clarks excuses really are a load of cobblers.

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