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Profits slip at River Island in ‘challenging market’

Operating profit at River Island fell 7% to £135.7m for the year to 31 December as the business continued to invest amid a “challenging” retail market.

Turnover at the high street chain was up 4% to £970.5m.

During the year, River Island invested in the “strategic expansion” of its product ranges across women’s, men’s and children’s wear. It also spent on technology to fuel is digital proposition, as well as expanding its store portfolio at home and abroad.

Ben Lewis, CEO of River Island, said: “Against a challenging backdrop, the last 12 months have seen stable trading. The consumer outlook remains uncertain but we are passionate about providing a differentiated experience for our customers, who are always at the heart of everything we do.

“We are well positioned to deliver further progress against our strategic goals and remain confident that we are building the right store portfolio, product and digital capability as we continue to invest for growth.”

River Island has 310 stores globally.

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