Trespass: Profit plummets as sales remain static at outdoor clothing brand
Profit at the company behind outdoor clothing giant Trespass plummeted as sales remained static during its latest financial year.
Jacobs & Turner has reported a pre-tax profit of £1.2m for the year to 30 June, 2024, down from the £9.6m it achieved in the prior 12 months.
New accounts for the business, which have been filed with Companies House, also show its turnover dipped slightly from £127.4m to £127.3m over the same period.
The Glasgow-headquartered company was established in 1938 while the Trespass brand was created in 1984.
The firm is owned by the millionaire Khushi family, who paid themselves £400,000 through dividends for the year, down from £8.4m in the prior 12 months.
Trespass operating in ‘tough marketplace’
A statement signed off by the board said: “The financial year ended 30 June, 2024, was challenging for the retail sector.
“Operating costs continued to rise and sales were relatively flat in a tough marketplace.
“USD [US dollar] maintained a strong position for most of the year, impacting the cost of goods and freight.
“Further growth was achieved in key strategic locations across Europe.”
The owner of Trespass added: “In addition to our financial performance, the directors remain steadfast in their commitment to enhancing the sustainability of our group’s operations and driving the decarbonisation agenda in the UK.
“This focus has resulted in the decrease in the carbon emissions across all sources.
“The group continues to focus on proactive measures to reduce emissions, such as optimising heating and lighting controls, enhancing premises insulation and significant steps towards the adoption of renewable technologies.”
The results come after Morning Wire reported in October 2024 that the company behind Cotswold Outdoor had now lost more than £100m since it last made a pre-tax profit almost ten years ago.
A month before, it was also reported that Mountain Warehouse was set to open another 50 stores in 2025 as part of a rapid expansion plan after achieving a bumper profit.