Home, garden and leisure retailer The Range has reported a decline in sales as profit slipped into the red.
According to its latest filed accounts for the year ended 29 January 2023, total sales fell 10.6%, or by £150m, to £1.2bn from £1.4bn in 2022.
Pre-tax losses amounted to £18m, down from a profit of £102.8m recorded the previous year.
Stated within its report, the group said that the decline was a result of trading returning to more normalised levels following the pandemic.
“This still represented a like-for-like increase of 17.3% on pre-Covid levels,” the company added. “The uncertainty created by the cost-of-living crisis has also directly impacted trading.”
During the period, 10 new stores were opened, while construction of a new 1.2 million sqft distribution centre began in Stowmarket.
