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Jack Wills profits plummet

Adjusted EBITDA at Jack Wills fell by 219% year on year to a loss of £7.5m in the 52 weeks to 28 January 2018. 

The lifestyle retailer cited constrained consumer finances and the weakness of the pound for its muted performance in the 2017 financial year. 

Turnover fell by 1.1% to £129.3m, compared with £130.8m the year before. Gross margin decreased to 50.98% from 55.87%.  

During the year, twelve new stores opened, one store was closed and three were refitted. 

A Jack Wills spokesperson said: “It is true that 2017/18 was a challenging year for Jack Wills but the business has moved on significantly since then. The improved processes and tighter financial disciplines we have put in place helped halve the EBITDA loss for 2018/19.

“Looking forward, Jack Wills recently completed a significant refinancing, with continued support from our major shareholder, BlueGem. This puts us on a firm footing as we seek to return to sustainable growth by improving our product range and re-engaging with customers via the right channels.”

The figures come after lenders at Jack Wills appointed accountancy firm EY to asses the company’s financial position.

Former Debenhams executive director Suzanne Harlow, took over as CEO at Jack Wills in September, replacing Peter Williams, who left in August.



Readers' comments (1)

  • It was always a one trick pony. It was just a case of how long it would take for the novelty of the naff preppy look to wear off.

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