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C/J Clark Limited is one of the most popular brands in the United Kingdom. Commonly known as Clarks, the homegrown shoe retailer reported a turnover of about *** million British pounds in the 2020/21 financial year, their poorest turnover performance over the period shown in the chart.

Back to profit after two years of loss

In 2018, Clarks had reported a **** million loss (after tax) after a gradual drop in the company’s profits. In the financial year 2018/2019, this number took a further nosedive and left the retailer with a loss of about ** million British pounds. After a recovery in 2019/20, Clarks posted by far its largest loss in 2020/21, at more than *** million pounds.

Footwear affected by high street apocalypse

The financial woes suffered by Clarks are often linked to an ongoing, general decline of the British high street. 2020 can be seen as an exception though, as the biggest factor in decreased profits was undoubtedly the coronavirus pandemic, as shops were forced to close under lockdown measures. The entire retail industry suffered, and footwear stores were no exception. Almost three quarters of clothing and footwear stores experienced decreased turnover.