{"id":6062,"date":"2019-01-07T15:45:06","date_gmt":"2019-01-07T15:45:06","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/missguided-fashion-chain-sees-losses-widen-as-costs-rise\/"},"modified":"2019-01-07T15:45:06","modified_gmt":"2019-01-07T15:45:06","slug":"missguided-fashion-chain-sees-losses-widen-as-costs-rise","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/missguided-fashion-chain-sees-losses-widen-as-costs-rise\/","title":{"rendered":"Missguided fashion chain sees losses widen as costs rise"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Model wearing Missguided clothing\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/139F0\/production\/_105086308_active-lime-green-msgd-logo-cropped-t-shirt.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Missguided<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Women&#8217;s fashion retailer Missguided has seen losses deepen after what it said was an &#8220;extremely challenging&#8221; year. <\/p>\n<p>According to accounts newly filed with Companies House, it made a pre-tax loss of \u00a346m in the year to 1 April 2018.<\/p>\n<p>That compared with a \u00a31.6m loss in the previous 12-month period.<\/p>\n<p>The firm, which began as a purely online retailer before adding four bricks-and-mortar stores, said the shops were too large and cost more to run than they brought in.<\/p>\n<p>Missguided also blamed &#8220;premature&#8221; investment in extra management for its worsening financial position.<\/p>\n<p>The firm is seen as part of a new breed of &#8220;fast-fashion&#8221; online firms that also include Boohoo and Pretty Little Thing.<\/p>\n<ul class=\"story-body__unordered-list\">\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.co.uk\/news\/newsbeat-45766366\" class=\"story-body__link\">Fast fashion online: Can it be sustainable?<\/a><\/li>\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46628213\" class=\"story-body__link\">How Instagram influencers would tackle retail crisis<\/a><\/li>\n<\/ul>\n<p>&#8220;The year has been an extremely challenging one from which the brand emerges stronger,&#8221; Missguided said in its strategic report for the period.<\/p>\n<p>&#8220;During the year, in order to support and enable future growth, a fresh tier of management was introduced to the business.<\/p>\n<p>&#8220;We now believe that this development was premature, materially increasing the cost base and diluting the influence of our founder [Nitin Passi].&#8221;<\/p>\n<p>Missguided said its retail store business model, consisting of outlets in big shopping malls, had been &#8220;well received&#8221; by its customers.<\/p>\n<p>However, the revenue they brought in was &#8220;insufficient to cover their operating costs, primarily due to the stores being significantly too large&#8221;.<\/p>\n<p>The retailer said it had addressed the problem of its high cost base by spending \u00a31.3m on reorganisation and redundancy costs.<\/p>\n<p>&#8220;After a positive first half year, we anticipate returning to historic levels of profitability in the current year,&#8221; it added.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46783114\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Missguided Women&#8217;s fashion retailer Missguided has seen losses deepen after what it said was an &#8220;extremely challenging&#8221; year. According to accounts newly filed with Companies House, it made a pre-tax loss of \u00a346m in the year to 1 April 2018. That compared with a \u00a31.6m loss in the previous 12-month period. The firm, &hellip; <\/p>\n","protected":false},"author":0,"featured_media":6063,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=6062"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/6063"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=6062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=6062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=6062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}