Decade-long string of financial losses for Cotswold Outdoor company.
Revamped Article:
Cotswold Outdoor, a popular retailer known for outdoor gear and apparel, has been grappling with financial losses for a decade. 📉Despite a significant reduction in losses in 2024, the company reported a pre-tax loss of £380,000 for the year, down from £7.3m the year before. 💸
Headquartered in Wiltshire, the retailer posted its first pre-tax profit back in 2015, with a figure of £14.8m. At that time, its turnover stood at £135.5m. Fast forward to 2024, new accounts filed with Companies House show a dip in turnover to £158.9m, down from £159.7m the year before. 📉
Cotswold Outdoor, which also owns brands like Runners Need and Snow and Rock, has accrued a pre-tax loss of more than £110m since its last profitable year. Based on current trends, it seems the business has been struggling to stay afloat amidst a challenging retail landscape. 🌪️
The retail landscape in the UK was heavily impacted by various macro-economic and geopolitical factors in 2024, with the Russian invasion of Ukraine being a significant contributor. The increases in employer's National Insurance and National Living Wage further added to the company's payroll costs. 💼💼
In the face of these challenges, Cotswold Outdoor has managed to maintain its liquidity by keeping cash and working capital in check. Additionally, the company opened two new stores in Ambleside and Beverley to expand its retail footprint.
- To mitigate their financial losses, Cotswold Outdoor, despite facing challenges in the UK retail landscape and increases in taxes like National Insurance and National Living Wage, made strategic decisions, such as opening two new stores in Ambleside and Beverley.
- Cotswold Outdoor, with brands like Runners Need and Snow and Rock, reported a pre-tax loss of £380,000 in 2024, despite a significant reduction from £7.3m the previous year.
- Despite the turbulent retail landscape and a pre-tax loss of over £110m since its last profitable year, the retailer, headquartered in Wiltshire, has shown resilience, maintaining its liquidity and keeping cash and working capital in check.
- In 2024, Cotswold Outdoor, known for its outdoor gear and apparel, decided to invest in business growth, aiming to diversify its portfolio by opening new stores, even with the economic uncertainties posed by geopolitical factors like the Russian invasion of Ukraine.
