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Jacques Vert to miss profits

Jacques Vert said full year profit would be below market expectations at between £4 million and £4.5m after trading deteriorated in the second half.

Jacques Vert, the classic womenswear brand, said that full year like-for-like sales were down 0.5% because trading had deteriorated in recent weeks, which it said were some of the most important weeks' in the group's financial year.

Jacques Vert said that stock levels had been well controlled and would be lower than the previous year end. It added that cash generation had also been strong with net cash at the year end in excess of £2m against £0.9m at April 2007.

Broker Seymour Pierce said it was a relatively positive result against its major competitor Alexon, which saw like-for-like sales fall back 5.6% for the year ended January 26.

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