JW Anderson achieves profitability amidst revenue dip in 2024

JW Anderson reported a notable turnaround in profitability for the year ended December 31, 2024, despite a slight decrease in overall revenue.

According to Companies House documents, total turnover for the year was 28.43 million pounds, a 5 percent decrease from 29.9 million pounds in 2023. The reduction was attributed to the timing of shipments for the SS25 season.

Profits for the year significantly rose to 21.3 million pounds, compared to a loss of 3.5 million pounds in 2023. This improvement was primarily due to the successful restructuring of an intra-group loan. Operating loss, however, widened from 1.6 million pounds to five million pounds.

While e-commerce revenue showed "modest, flat growth" compared to the year prior, retail revenues grew 15 percent, as the brand's Milan store contributed its first full year of trading, alongside the existing London location.

The company said it remains focused on increasing brand awareness, expanding market share within the global fashion industry, and improving the overall net operating position.