Mainstream womenswear retailer Jacques Vert will announce at its AGM today a 0.8% like-for-like fall in sales for the 22 weeks since the beginning of April, but said that it anticipated increased pre-tax profits for the full year.
In a statement this morning, the retailer, which comprises the brands Jacques Vert, Windsmoor, Planet and Precis, said that stronger full-price sell through and improved margins had led the board to expect that the full-year results would exceed market expectations.
Chairman Steve Bodger said: “We have also been encouraged by initial customer reaction to the new Autumn 2009 season collections. While it is still very early in the season, this positive response provides some confidence in the continuing development of our product.”
Shares in the company rose 17.8%, to 8.25p, in early trading.