British clothing retailer River Island has seen 23.2 per cent turnover increase year-on-year to £ 740.0 million in the year to December 2021.
The retailer’s operating profit touched £ 73.5 million during the year, while it had incurred a loss of £ 36.2 million in the year-ago period.
Notably, EBITDA was £ 94.8 million, compared to a loss of £ 8.5 million.
The fashion retailer cited continued investment across all channels to optimise the customer experience in-store as well as online – in addition to having a strong cash and balance sheet.
In it efforts to make its high street store presence future ready, the retailer also recently piloted a new store concept namely River Studios.
Substantiating on the good performance, Will Kernan, CEO, River Island, said “We have delivered a very encouraging performance this year, significantly exceeding pre-pandemic earnings.”
Will added “This is testament to the progress the company has made over the past three years. While the DNA at the heart of River Island remains unchanged, our business and brand have evolved to ensure we are ready for the future.”
Founded in 1948, River Island is known for womenswear, menswear, kidswear and footwear. There are over 350 River Island stores across the UK, Ireland and internationally.
