Clintons returns to profit under new owner

Clintons has returned to profit under its new owner following a store closure programme.
The card and gifting retailer swung to a pre-tax profit of £38m in the year to June 29, up from a loss of £5.3m the previous year. This was despite a 14% drop in sales, from £96.5m to £82.6m.
During the period, Clintons shuttered more than 38 unprofitable stores after an insolvency court approved a restructuring plan to avoid a total collapse. It finished the year with 163 stores