Operating profit at River Island for the year to 30 December 2017 fell by 40% to £80.6m as it invested in its digital capabilities amid a “challenging backdrop for retail”.
Turnover for the year to 30 December fell 2.3% year on year to £944.5m, and River Island said its outlook remained cautious
CEO Ben Lewis said: “Against a challenging backdrop for retail, we have continued to perform well, reflecting strong execution by our team. Our investment in the business for the long term remains unchanged.
“We have a proven strategy that gives us the confidence to deliver new and expanded product ranges, while also continuing to build the right store portfolio and digital capability for future growth.
“Consumer habits and expectations are evolving at an ever-increasing pace, but, over the past 30 years, River Island has successfully stayed on top as one of the best-loved names on both the British High Street and online.”
River Island is celebrating its 30th anniversary this year, and has expanded its product ranges and launched a new homeware category.