Clarks, the UK’s largest shoe retailer and the world’s leading non-sports shoe brand reported profits up by 27% for the year to January 31, 2002. The privately owned firm made pre-tax profits of £46.8 million ($67.8 million) – up from £36.8 million ($53.3 million) for the previous 12-month period.

The company has restructured, reducing the number of stores in the UK by 30% while increasing advertising. Tim Parker, chief executive since 1996, said that the restructuring was now nearly over and the company would be looking to foreign markets for expansion.