Footasylum store in Chester, UK. Credit: Craig Russell via Shutterstock.

Footasylum, the popular footwear and sportswear retailer, has announced its financial results for the full year ending 28 January 2023.

Despite a substantial increase in revenue, the company experienced a sharp decline in profits. Let’s break down the key details of this report.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Revenue Soars to £298 Million: In a mixed financial report, Footasylum revealed that its total revenue for the fiscal year 2022-2023 reached an impressive £298m ($377m).

This marks a notable 6% increase when compared to the previous year. The company attributes this growth primarily to a remarkable 18.8% surge in store sales.

Profit Before Tax Plummets by 75%: While revenue is on the rise, the company’s profit before tax took a significant hit. Footasylum reported a startling 75% drop in pre-tax profits, bringing the figure down to just £2.8m.

See Also:

This substantial decrease in profitability has raised questions about the challenges the retailer may be facing.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Challenges and Opportunities Ahead

External Factors at Play: Industry experts suggest that external factors, such as increased competition and economic uncertainties, may be impacting Footasylum’s bottom line. The growing trend of online shopping and changing consumer preferences could also be contributing to the challenging market conditions.

Strategies for the Future: In response to these challenges, Footasylum is expected to focus on strategies to boost profitability such as optimising its online presence and exploring cost-cutting measures.

Investors and stakeholders will be closely watching how the company adapts to these changing dynamics.