Edinburgh Woollen Mill, the Scottish clothing and gifts retailer, said sales remained flat for the year to February 27 despite it opening 21 stores during the period.
According to figures filed at Companies House, the retailer, which has 310 stores, had a turnover of £156.8m, down from £157.8m the year before. Pre-tax profits were £22.5m, 2.2% down from £23m the previous year.
The impact of the sales growth from new stores was offset by the transfer of its soft furnishings chain Ponden Mill, which it acquired in January 2008, to subsidiary company Duvetco in February 2009.
The retailer said in a statement: “For the second year in succession the adverse economic situation created a very competitive and price-sensitive market.”
Edinburgh Woollen Mill was unavailable for comment as Drapers went to press.