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.