The retailer recorded a pre-tax loss of £32.3m in the year to 30 December 2023.
Sales at River Island – which has more than 250 locations across the UK – dropped 15% to £701.5m, down from £825.8m in 2022.
In a statement to Companies House, River Island said: “The business has invested in customer proposition − with stronger product ranges, an enhanced shopping environment in stores and an elevated digital experience.
“The business is now starting to see the benefits from the investment. Customers are reacting positively and that is delivering improved business performance.
“Despite the challenging trading environment so far this year we remain positive about the outlook.”
The financial statement caps a bad few months for River Island. In August, it was understood to be demanding discounts from some of its suppliers for alleged quality and sizing issues.
While earlier in the year, the business hit the headlines when it was reported it was introducing a £2 processing fee to return items ordered online, with the cost deducted from the total amount of the refund.
