Sweaty Betty posts full year loss, sales decline 8.5 percent

Sweaty Betty, now part of the Wolverine Worldwide, recorded a sales decline of 15.5 million pounds or 8.5 percent to 167.7 million pounds for the year to January 1, 2023.

Accounts filed with the Companies House show that the company made a loss of 4.3 million pounds for the year compared to profit of 11.4 million pounds in the previous year.

Gross profit declined to 66 million pounds, EBITDA fell to 130,868 pounds, operating loss amounted to 4.6 million pounds and pre-tax loss was 5.1 million pounds.

After getting acquired by the American footwear group Wolverine Worldwide in 2021, Sweaty Betty has witnessed several developments. In June, Melissa Mullen joined Sweaty Betty as its new global brand president.

Sweaty Betty is placed under Wolverine’s London-based international group led by Isabel Soriano, which is responsible for the operations outside the US to closely align it with Wolverine’s global centres of excellence.