Gymshark profits fall as tariffs threaten to squeeze US business
Gymshark's profits slipped in the year before President Trump's tariff regime threatened to squeeze its crucial American business and upend its 12-year streak of uninterrupted revenue growth.
Pre-tax profits fell from £13.1 million to £11.9 million in the year to the end of July as the British athleisure brand invested in new stores in London, New York, Dubai, Amsterdam and Manchester.
Ben Francis, the Solihull-based company's 32-year-old co-founder and chief executive, owns more than 70 per cent of the business, with US private equity firm General Atlantic and management the rest. No dividend was paid, but the pay of the company's highest-earning director rose to £1.15 million from £968,000 last year and almost twice the level paid in 2022.
The decline in pre-tax profits
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