Hush reports decline in annual sales and profit

Women’s fashion and lifestyle brand Hush reported revenues of 62 million pounds for the year to March 25, 2023, down 9 percent on the prior year.

Hush said in its filing with the Companies House UK that the sales decline represented trends witnessed by the wider retail market which experienced a difficult year.

The company added that broader use of discounting led to a squeeze on margins, resulting in a gross profit decline of 20 percent to 22.7 million pounds during the year, while operating profit declined 84 percent to 1.4 million pounds.

In January this year, the company appointed former Amazon and Diageo executive Sarah Miles as its new chief executive officer, while former Coach executive Melissa Dick joined Hush as its new chief creative officer in February.