Hush swings to loss as FY24 turnover dips following relaunch

Women’s lifestyle brand Hush Homewear reported a dip in turnover for the year ended 30 March 2024, during which time it also swung to a loss. The company, which relaunched in late 2023 upon the return of its founder Mandy Watkins, posted a turnover of 52 million pounds for FY24, down from 62 million pounds in the year prior.

Hush further fell into the red for the reported period, dropping from a former operating profit of 1.4 million pounds in 2023 into a loss of 7.9 million pounds. Earnings before interests and other items remained at a loss but increased 5.1 million pounds from 2.8 million pounds.

It cited the ongoing cost-of-living crisis as the central cause, with the womenswear market in the UK, its main trading market, facing particular difficulties, reporting a negative year-on-year sales growth.

In light of the waning financials, Hush said that its shareholders had approved of a capital restructuring in November 2024 to fund further investment and support working capital requirements as part of a wider strategic plan.

In the filing, issued with Companies House, the company noted: “Planned activity for FY25 includes an increased investment in brand partnerships, to bring Hush to new customers and grow sales in our strategic markets.”