River Island has said its outlook for the year remains “cautious” as 2016 continues to pose challenges for fashion retailers.
Operating profits at the retailer dropped 0.5% to £145.8m in the year to 26 December 2015, down from £146.6m the year before. Turnover grew slightly from £931.6m in 2014 to £932.7m.
The family-owned company, which operates 292 stores, said there had been “significant” growth in customers using multichannel options to shop. Click-and-collect sales have risen by nearly 40% in the last year and mobile have grown by 30%.
Chief executive Ben Lewis described the results as “stable” against a challenging backdrop.
He added: “During the period we have significantly invested in our technology, people and brand. Whilst our outlook remains cautious, we are well-positioned in terms of having the right product, and offering a great experience in-store and online. We will continue to invest and innovate in the business to develop our world class multichannel fashion brand.”
The company opened a new digital office in London’s Shoreditch earlier this year, which Lewis described as a reflection of its commitment to technology.