Selling abroad boosts Clarks Shoes
Clarks, the Somerset-based shoe retailer, has reported profits exceeding £100m for the first time, reports the BBC.
A report released on Monday revealed that the retailer, based in Street, saw pre-tax profits rise by 28% following a 9% sales increase.
The report showed a boost in overseas sales helped offset poor UK sales.
The company saw a 19% rise in sales in the US, as well as selling nearly a fifth more pairs of shoes in China in 2010 compared to the previous year.
Despite the report’s successful findings Peter Davies, chairman at Clarks shoes, is remaining cautious.
He said: “In many of our markets, the consumer is facing significant challenges as governments struggle to tackle their budget deficits with tax increases and cuts in public expenditure.”
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