Legendary British shoe shop with 326 stores axes 1200 jobs after suffering heavy losses
The iconic store revealed that revenues fell by nearly £100m in the latest financial year.
Clarks ' staff members dropped from 7,413 to 6,161 over the last year, according to accounts filed by Companies House.
Heavy Losses
The footwear specialists reported a £39.2m pre-tax loss, with sales down from £994.5m in 2023 to £901.3m over the latest tax year.
This comes after Clarks fell to a pre-tax loss of £39.8m in the 12 months prior.
The company revealed that an impairment of £32.1m of right-of-use assets and store property plant and equipment has "significantly impacted" annual results.
Plan For Growth
Clarks said that its 'focus is to return to sustainable sales growth combined with a cost-focused attitude to delivery healthy store profitability in 2025'.
'Significant changes have been made to the operations in the year to right size the overhead cost for the current business size, refocus the marketing approach, reposition the product assortment and set up the business for recovery and sustainable profitable growth in 2025," it added.
The shoe shop last reported a pre-tax profit when it posted a total of £35.9m for the 48 weeks to the end of 2022.
Clarks closed almost a dozen stores in 2024, including its stores at the Saddlers Shopping Centre in Walsall and the.
In 2023, the retailer closed seven stores, with shoppers describing the losses as a "terrible shame".
More Brands Axing Jobs
A struggling car brand confirmed earlier this week, it will be axing hundreds of jobs at one of its UK factories.
Major cinema chain with 100 branches 'to close dozens of sites' in major blow to high street
The move comes after the firm reported £4 billion losses in the last financial year.
Nissan has now confirmed the axing of around 250 jobs from its Sunderland factory.
Meanwhile, Pizza Hut is rolling out new digital ordering screens across all 136 of its dine-in restaurants, a move that could make over 100 staff members redundant.
The pizza chain, which employs 3,000 staff, is set to cut 120 front-end roles as part of the shake-up.
What are my rights if I'm made redundant?
YOU are entitled to statutory redundancy pay if you have worked for your employer for two years or more.
The statutory rate is based on your age, weekly pay and number of years in the job.
You will get:
Half a week's pay for each full year you worked aged under 22
One week's pay for each full year you worked aged 22 or older, but under 41
One and half week's pay for each full year you worked while aged 41 or older.
You cannot be paid less than the statutory amount.
If you were made redundant on or after April 6 2025, your weekly pay is capped at £719 and the maximum statutory redundancy pay you can get is £21,570.
The government has a calculator on its website to help you work out how much you are owed.
You may get more than this statutory amount if your employer has a redundancy scheme.
Earlier this year Burberry told staff that their jobs will not be safe if they work at a certain time of day.
The fashion house said it would be culling 1,700 jobs as part of a radical cost-cutting strategy in the face of losses and slumping sales.
The job cuts, equivalent to a fifth of its entire workforce, will fall on head office staff and cutting back on the shifts at its retail stores depending on peak hours.
Bosses admitted that the firm would also be culling its entire night shift workforce at its Castleford factory in West Yorks.
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