UNITED KINGDOM — The British Heart Foundation plans to close approximately 150 charity shop locations over the next two years. This includes 90 stores by March of the upcoming year, with the remaining closures scheduled by the following March.
The decision follows a decrease in net profit for the organization's retail operations. Net profit across its 640 stores declined from £18.8m in the previous financial year to £3.6m in the year ending 31 March 2025. Rising operational costs and a shift in consumer preference toward online shopping have made about 25 percent of the charity's high street locations commercially unsustainable.
Charmaine Griffiths, the chief executive, said, "Like most retailers, we are facing an exceptionally challenging trading environment." Griffiths noted the charity employs approximately 3,700 staff in its retail arm and said the closures would be a difficult time for employees and volunteers. Management also plans to reduce staffing levels in central functions that support retail operations.
Allison Swaine-Hughes, chief commercial officer, indicated that the closures are necessary for the long-term sustainability of the charity's retail operations. "We must act now to ensure a sustainable future for BHF retail." Swaine-Hughes said. She added that the move protects the mission long-term, even when short-term decisions are hard.
The organization reported a total income of £181 million for the financial year ending 31 March 2025. Net income decreased to £129.6 million after direct costs. The ratio of income available for charitable activities reduced to 72% from 77% in the previous year, though it remained above the benchmark of allocating 70p of every £1 towards lifesaving work. Management stated that the overall financial status of the organization remains stable despite the retail changes.
No independent assessment was available for this report.