Crew Clothing warns on consumer confidence as profit stalls

Crew Clothing has warned that it could suffer from a significant slowdown in consumer confidence, as the retailer saw profit stall last year.

The high street clothes seller said it is bracing for a potential drop-off in spending, as inflation fears caused by the Iran war tighten shoppers’ budgets. 

In a statement the firm said: “The retail landscape remains a challenging trading space for many. 

“Although Crew’s customers have shown great resilience in the past, the business remains cognisant of potential slowdown in consumer spending as a result of rises in the cost of living and economic pressures.”

The retailer’s pre-tax profit remained flat at £25.5m in 2025, despite turnover jumping by a fifth to £151m. The firm’s cost of sales rose by eight per cent to £44m.

Crew Clothing said its website outperformed its high street business last year, as online sales jumped by 30 per cent, compared to 21 per cent growth in its stores.

Retailers have warned that the summer’s record temperatures drove shoppers away from high streets, though online sellers benefited from the extreme heat.

‘Middle England’s Ralph Lauren’

Crew Clothing’s consumer confidence warning comes as the retail industry ramps up pressure on the government to boost high street businesses at next month’s Budget. 

Andy Burnham has suggested he could cut business rates bills for smaller shops, but large retailers have warned that the Prime Minister must not hike taxes for big shops to fund this move.

Retailers have also urged the government to roll back recent hikes to employer national insurance contributions and the minimum wage, promising they will hire more young people if the cost of employment falls.

Crew Clothing was founded by Devon-based windsurfing instructor Alistair Parker-Swift in 1993. 

In 2017, Parker-Swift and private equity firm Livingbridge sold their stakes in the retailer to US-based clothing manufacturer Exquisite Apparel.

The clothing group is controlled by Menoshi ‘Michael’ Shina, who led a group of investors in the £22.6m takeover of suitmaker Moss Bros in 2020. 

Former Crew Clothing chief executive David Butler, who quit in 2023, had described the retailer as “middle England’s Ralph Lauren” as he set out plans to open new stores in market towns and coastal resorts.