Cost pressures and wage inflation impact interiors brand

Home furnishings and interiors business Fired Earth has reported widening losses in what has been a challenging year.

According to its latest filed accounts for the year ended 30 September 2023, total sales fell 5.2% to £14.1m from £14.9m on the previous 12-month comparative period of October 2021 to September 2022.

The EBITDA loss for the period stood at £1.7m, widening from a loss of £279,000. Pre-tax losses resulted at £1.5m, down from a profit of £97,000.

Stated within its report, the company said: “It was a challenging year with turnover down and cost pressures and wage inflation having a negative impact on company performance resulting in an operating loss.

“Our online performance remained strong but retail sales decreased marginally across our continuing 25 showrooms.  We were delighted to open a new flagship showroom close to New Kings Road London in July.

“The company invested in a comprehensive external strategic review which has helped set our medium-term plan involving additional up-front investment in people, product, brand and partnerships. This will bring a return to profitability in the medium term from our core business and improve our diversification opportunities for the future.”

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment