UK: Austin Reed Posts 11.7% Sales Downturn
The company, which is hoping for an upturn in trading over the Christmas-New Year period, also saw retail sales fall 5.5 per cent year-on-year for the period.
"At this stage, however, we consider it unlikely that the recent sales decline will be reversed in the remainder of the financial year," a company spokesperson said.
Recently, the North Yorkshire-based company successfully revamped its flagship London store, with a relaunch of the Country Casuals brand planned for the near future.
The company's namesake brand has also been given a management reshuffle of late, and a new range of soft-lined luxury casuals is due to be released under the label in spring.
Austin Reed currently operates 47 namesake retail outlets and 64 Country Casuals stores across the UK.
Companies: Austin Reed
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