Foyles battles rate hikes and flooding to see turnover rise

Foyles battles rate hikes and flooding to see turnover rise

Foyles battled flooding in its flagship store, a decrease in footfall following terrorist attacks in the UK and “significant” rates rises last year to deliver an overall increase in turnover of 6.4% to £26.6million.

However, after investing significantly in overhauling its supply chain and logistics systems, the mini-chain incurred an operating loss £68,000 for the year to 30th June 2017, down from a pre-tax profit of £131,447 a year earlier.

Paul Currie, chief executive of the seven-store chain, said Foyles’ rise in its turnover was driven by the opening of a new branch in Chelmsford in ...

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