30-04-2025
Cotswold Outdoor Group losses sharply reduced in 2024, despite tough conditions
The company that owns Cotswold Outdoor continued a decade of pre-tax losses in its latest financial year, but those losses were significantly reduced, new accounts filed at Companies House show.
The business, Cotswold Outdoor Group Ltd, also owns Runners Need and Snow + Rock and is itself owned by Paris-based private equity firm PAI Partners.
It made a small pre-tax loss of £380,000 for the 12 months to the end of December 2024, a major improvement on the £7.3 million loss of the previous year and good news given that it hasn't made a profit since 2015 on a pre-tax basis. The net loss for the year was just £105,000, down from a loss of £6.12 million in 2023.
Total turnover fell only slightly to £158.9 million from £159.7 million and like-for-like sales were down only marginally to £156 million from £158.5 million. The gross margin was also down at 43.7% from 44.1%.
Cotswold Outdoor said the retail landscape in the UK throughout last year continue to be impacted by major macroeconomic and geopolitical issues and although inflation fell it increased in the final quarter of the year. The business is also facing more intense competition in its outdoor segment. That all had a negative impact and the prospect of higher costs through increased National Insurance payments and a higher living wage are also factors the company has to take into account for the future.
Yet it feels 'that it is well placed to tackle these challenges and continue to explore new business opportunities'.
The company said the business has continued to manage cash and working capital very tightly while also investing in its store estate having opened two new stores during the year. However, it has also closed stores where they're seen to be unviable and one in Orpington was closed last year with two closed at the start of 2025, one of them being in London's Covent Garden.
