Mainstream womenswear retail group Jacques Vert has reported a 2.6% rise in sales and a 3.1% rise in pre-tax profits for the 53 weeks ended April 30, 2011 despite a “difficult trading environment”. Margins were eroded slightly.
The group, which includes the the Jacques Vert, Windsmoor, Planet and Precis Petite chains, 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%.
In the nine weeks since April 30, Jacques Vert reported that trade continues to be strong with retail sales 1.7% higher than in the same period last year but margin continues to be lower than the previous year which Jacques Vert blamed on cost pressures on the suppliers.
“I believe that this financial year will be challenging but I am pleased with the start we have made and I am confident that the business is well positioned to benefit from any improvement in the market,” said chairman Steve Bodger.
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.