River Island, the privately owned vogue retailer, is getting ready to exert a tighter grip on its price base because the excessive avenue faces the prospect of swingeing tax hikes in April.
Sky Information understands that River Island, which is owned by the Lewis household, has drafted in AlixPartners to work on a value discount and revenue enchancment train on the chain.
Exact particulars of the scope of the work have been unclear on Tuesday, though it isn’t believed to embody formal restructuring work that may result in retailer closures.
River Island, which was beforehand named Lewis and Chelsea Lady, nonetheless trades from greater than 250 shops, in keeping with its web site.
Retailers of all sizes have complained concerning the potential impression of forthcoming will increase to employers’ nationwide insurance coverage charges, with the business as a complete dealing with a multibillion pound hit.
Accounts for River Island Clothes Co for the 52 weeks ended 30 December 2023 present the corporate made a £33.2m pre-tax loss.
Turnover through the 12 months fell by greater than 19% to £578.1m.
The corporate’s administrators mentioned that whereas the buying and selling atmosphere through the subsequent 12 months had been “difficult”, they remained “constructive” concerning the outlook.
River Island didn’t reply to emailed requests for remark concerning the graduation of a prices discount train on the enterprise.
AlixPartners, which has additionally been employed to advise the low cost retailer Poundland’s mother or father, Pepco Group, declined to remark.
