Jacques Vert hit by slowdown
- Published: 08 July 2008 08:48
- Author: Jessica Price Brown
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- Last Updated: 08 July 2008 10:06
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Jacques Vert saw like-for-like sales fall back 5.9% for the 10 weeks since April 26 as the effects of the retail slowdown kicked in.
However Jacques Vert said that for the year ended April 26, retail sales were ahead 1% at £114.9 million, and 0.5% up on a like for like basis.
Jacques Vert's operating profits were hit by the slowdown in the retail environment in the final quarter of the financial year. It recorded operating profits of £4.7m for the year against £5.7m the previous year.
Jacques Vert chairman Steve Bodger said: "Our brands have performed well in difficult trading conditions...I expect that the remainder of this financial year will be very challenging; but I am confident that the steps taken to consolidate our strong financial position will enable us to benefit from any improvement in the market."
Jacques Vert owns the Windsmoor, Planet and Precis brands. It has around 940 outlets predominantly in the UK, Eire and Canada.
