Home shopping retailer sees sales slip below £100m

Home shopping retailer Grattan plc has reported a reduction in turnover as well as posting a loss of almost £10m.

According to its latest filed accounts for the year ended 26 February 2022, total sales fell 9.6% to £95.9m from £106.1m in 2021, marking the first time since 2015 sales were below the £100m threshold. Pre-tax losses amounted to £9.9m.

During the period, Grattan said that Brexit had impacted its supply chain more than expected, leading to increased freight and duty costs by £2.9m compared to prior year. The company secured an equity injection of £5m during the period from its parent group.

Furthermore, the period saw a shift back from homewares to fashion as customers’ needs changed as Covid-19 restrictions were eased.

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