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Jacques Vert chief executive takes pay cut

The chief executive of maninstream womenswear group Jacques Vert received an 18% pay cut last year.

According to the group’s annual report, Paul Allen who is chief executive of the retail group which includes chains Jacques Vert, Planet, Precis and Windsmoor, will earn £563,000.

The group, which reported its annual results in July, said sales for the full-year were £118.4m up from £115.3m the previous year.

Pre-tax profits also rose to £5.3m up from £5.1m while like-for-like sales were up 2% in a year when the Jacques Vert and Precis Petite chains performed particularly well for the group.

Gross margin fell behind though to 62.8% versus 63.7%.

Jacques Vert operates around 870 outlets primarily made-up of concessions in the UK, Ireland and Canada. It also sells online via its own ecommerce business and third party websites.

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