Footasylum pre-tax profit plummeted 75% to £2.8m in its last financial year, despite an increase in sales at the retailer.
Operating profit also dropped more than 50% for the full year to 28 January 2023.
Despite the drop, gross profit at the company rose nearly 5%, while year on year sales nudged up 6% thanks to an increase in store sales.
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Gross margin was down by 0.5 basis points, as a result of ongoing cost pressures and supply chain disruptions.
The sportswear retailer said: “Footasylum is not immune to the widely reported challenges to physical retail in the UK, we remain conscious of the headwinds that prevail at this time including the general macro-economic and geopolitical situation and global inflation”.
It continued: “For 2024, the group is planning to increase its store base and store performance, with continued growth in profitability”.