Charles Clinkard toasts to retail success following a year of business growth

Independent footwear retailer, Charles Clinkard, toasts to retail success as it announces that overall sales increased by +7 percent in 2023 compared to the previous year.

The retailer, which has been a family business since 1924 and celebrates its 100^th birthday later this spring, has benchmarked itself against industry figures as reported by the BRC/KPMG sales monitor. Looking at bricks and mortar stores for non-food retailers, sales were up +2 percent year-on-year, while Charles Clinkard exceeded this with a +6 percent increase. While online commerce for non-food retailers decreased by -3 percent compared to 2022, Charles Clinkard saw a significant growth of +7 percent.

This success has allowed the business to invest even further into the high street, with a £350,000 investment into a full refurbishment of the highly popular Bristol store in February and an additional £130,000 into a brand-new look and feel of its Warwick store which will re-open this month. Not only that, but Charles Clinkard is also investing in the future of its tech capabilities, increasing IT spending by a third for 2024 to ensure it retains a competitive edge over other retailers.

Charles Clinkard paid off its CBILS loan early in 2023 meaning the group is now debt-free with cash in the bank over £3.5 million.

Tim Payne, Managing Director of Retail at Charles Clinkard, commented: “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 100^th 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.

Consumer confidence continues to climb which is why we are continuing to invest in the shopping experience both in-store and online, and how we can make this as personalised and seamless as possible through the whole customer journey. We have been at the heart of families and the high street for 100 years, so it’s important that we continue to meet the needs of our customers and adapt and innovate along the way with them. 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.”

Charles Clinkard is home to many household brands across its women’s, men’s and children’s departments, offering a shape, size and style for everyone.