Rigby & Peller remains optimistic despite profit slump

Turnover and profits fell at Rigby & Peller last year, according to accounts filed with Companies House this month.

The retailer, which is owned by Belgian lingerie group Van de Velde, said sales fell 3.3% to £7.9m in the 12 months to December 31.

However, when eliminating the impact of the closure of its Westfield store in London’s Shepherd’s Bush in June 2015, turnover increased by 1%.

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Gross profit decreased by 5.5% to £4.3m in the same period and the retailer made an operating loss of £804m compared to an operating profit of £698m the year before.

No new stores were opened or closed during 2016. However, plans were submitted to close Rigby & Peller’s Bluewater store in June this year and open a new one of a similar size in the same location in September to reduce the store’s operating costs.

Despite the on-going economic difficulties, Rigby & Peller director Nathalie Nelly Andrée De Kerpel said in the report that the company has continued to invest in training and development of staff, reinforcing its commitment of providing a premium quality service in lingerie styling.

“The company remains committed and confident for the future plans to expand its operation and continuing to do so,” she added.

Earlier this month, The London Evening Standard reported that revenues at Rigby & Peller stores open for more than a year increased 3.6% in the six months to June 2017.

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