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High-end fashion and streetwear label End. has reported a pre-tax loss of £43.2m, down from a profit of £8.8m for the year ended 31 March 2024.
The group’s revenues also plummeted 3.8% from £221m to £212.7m. It stated that the retail landscape remained challenging as macroeconomic pressures persisted both in the UK and abroad.
High inflation and elevated interest rates also weighed heavily on consumer spending.
Additionally, although the business recorded a positive pre-exceptional EBITDA of £6m, this was down from £28.1m.
As a result, the company took proactive steps to reduce inventory intake throughout the year to de-risk the company’s exposure. This significantly improved its inventory position from £92.7m to £62.0m.
During the period, End. strengthened its leadership team with the appointment of a new chief buying and merchandising officer and chief operating officer.
Alongside these appointments, the company has invested in the expansion of its merchandising team which has enabled the business to better manage its inventory.
It also combined the two store offerings in Newcastle into a single flagship store which consolidated the full product range in one location.
End. said: “End. operates in what remains an intensely competitive industry but continues to invest in the right capabilities to drive future growth, supported by long-term strategies with key brand partners and a continual desire to improve and streamline operations.”
