The family behind the River Island fashion chain has chosen to plough a multi-million pound dividend back into the company to bolster the brand at a “challenging” time for the sector.

Ben Lewis, chief executive, told The Daily Telegraph that the board would not be taking its annual dividend, worth £180 million for the past two years and would instead be investing the money into the brand’s online channels and IT systems. The announcement comes after a set of mixed results for the firm, with sales up £1 million in its most recent results, but operating profits down.