Sales at Pringle, the luxury knitwear brand, dropped 8.8% last year, although losses at the business remained stable..
Turnover at Pringle was £17.74 million for the 52 weeks to March 29 2008, down from £19.46m the previous year.
Losses-before-tax were cut slightly, at £9.46m over the period, compared with £9.54m the previous year.
Operating loss was £9.4m, compared to £9.43m the previous year.
Pringle appointed Mary-Adair Macaire, global marketing director at Chanel, as its new chief executive, last June.
Pringle of Scotland is owned by Hong Kong clothing magnate Douglas Fang, who bought the brand in 2000.