Charles Clinkard sales rise 7% in 2023
The retailer has paid off its CBILS loan early in 2023, meaning the group is now debt-free with cash in the bank of over £3.5m
Footwear retailer Charles Clinkard has announced that overall sales rose by 7% in 2023 compared with the previous year.
This success has allowed the business to invest even further into the high street, with a £350k investment into a full refurbishment of its Bristol store last month and an additional £130k into a brand-new look and feel of its Warwick store, which will reopen this month.
In addition, Charles Clinkard will be investing in the future of its tech capabilities, increasing IT spending by a third for 2024 to ensure it “retains a competitive edge over other retailers”.
Finally, the retailer has paid off its CBILS loan early in 2023, meaning the group is now debt-free with cash in the bank of over £3.5m.
Tim Payne, MD of retail at Charles Clinkard, said: “It’s fantastic to have such a successful trading year in 2023, and puts us in a really strong position as a business as we look ahead to our 100th birthday.
“Consumer confidence continues to climb which is why we are continuing to invest in the shopping experience both in-store and online, and how we can make this as personalised and seamless as possible through the whole customer journey. We have been at the heart of families and the high street for 100 years, so it’s important that we continue to meet the needs of our customers and adapt and innovate along the way with them.”
He added: “We’re excited to see what the next year holds for the business and to continue to roll out our strategy for further growth and futureproofing.”
The retailer, which stocks brands such as Sketchers, Clarks and Birkenstock, has been a family business since 1924 and celebrates its 100th birthday later this spring.
