Decathlon Reports Increase in Sales Despite Doubling Losses
Decathlon’s losses doubled due to increased investment in new store openings and renovations.
The popular sports retailer, known for its wide range of products including affordable trainers, tents, and kayaks, reported a loss of £9.4 million in the previous year compared to £4.7 million in 2021.
However, Decathlon experienced a 6% increase in turnover, surpassing £300 million, as customers returned to its 50+ stores in the UK following the easing of Covid restrictions.
Tough times: The sports store, which sells everything from cut-price trainers and tents to £700 kayaks, posted a £9.4 million loss last year against £4.7 million in 2021
The increased losses were primarily due to the company’s investment in new locations in Greater Manchester, Liverpool, Livingston in Scotland, and York.
Decathlon’s French parent company operates a total of 1,750 stores globally.
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