River Island reported a sharp increase in losses in its latest annual results, with the fashion retailer facing a challenging trading period despite securing court approval for a major restructuring plan.
For the 52 weeks ending 28th December 2024, the company’s operating loss nearly doubled, rising 86.3% to US $ 82.6 million. EBITDA also deteriorated significantly, with losses almost tripling — an increase of 186.6% — shifting from US $ 21.8 million the previous year to US $ 62.4 million in 2024.
Sales fell 7.1% year on year to US $ 679.6 million, reflecting weakened consumer demand and ongoing pressures across the UK retail sector.
The retailer’s pre-tax loss also almost doubled, rising 92.7% to US $ 81 million, compared with US $ 42 million recorded the year before.
The results follow River Island’s successful bid in August for High Court approval of a restructuring plan intended to prevent the business from entering administration.
In a filing submitted to Companies House, the company stated that the accounts had been affected by “a significant post balance sheet event” relating to the formal Restructuring Plan (RP). According to the filing, the company now has “a new and secure financing facility until 2028 with no cash interest servicing costs, a reduced store base with increased profitability per store, and a significantly reduced administration and distribution cost base.”
The filing added that River Island has also been implementing a broader business transformation plan throughout 2025 aimed at reducing costs, improving margins and increasing sales. The statement noted that “together, these changes will allow the business to return to profitability.”
