Charles Clinkard boosted by strong year of growth in 2023
Independent footwear retailer Charles Clinkard has reported a 7% increase in sales for 2023 compared to the previous year.
Sales in its brick-and-mortar shops rose by 6% while online sales climbed by 7%.
The growth has allowed the business to invest £350,000 in a full refurbishment of its Bristol store and an additional £130,000 in a new look and feel for its Warwick store, which will re-open this month.
Charles Clinkard is also investing in its tech capabilities by increasing IT spending by a third this year.
Tim Payne, managing director 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.
“Looking at BRC/KPMG sales monitor insights, it’s clear that the industry in most cases has been stable with modest growth compared to the more turbulent years prior.
“We didn’t put too much pressure on achieving significant sales growth against the backdrop of the economic climate, but it’s brilliant that we have been able to go above and beyond these benchmarks and even buck the trend in ecommerce.”
A family business since 1924, Charles Clinkard will celebrate its 100th birthday later this spring. It offers ranges for women, men and children from the likes of Gabor, Rieker, Skechers, Clarks, Loake and Birkenstock.
The business paid off its CBILS loan early in 2023 which means it is is now debt-free with cash in the bank over £3.5 million.
Looking ahead, Payne 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.”
