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Jaeger slashes seasonal Sale periods

Jaeger has refocused its promotional strategy as part of its five-year turnaround plan.

The womenswear retailer will discount for four weeks over summer and another four over Christmas across its retail estate of about 50 stores. It currently runs two 12-week Sales per year.

Chief executive Colin Henry said: “We go on Sale on tomorrow (June 16) and that’s 10 days later than last year. This is the first season we are doing it. It’s part of Jaeger’s five-year turnaround plan – to have more premium trading initiatives.”

Henry said its online sale during these periods would last longer depending on stock, and added that retailer would continue to run promotions throughout the year but there would be “significantly” fewer of these.

The business is about 18 months into the five-year turnaround strategy, which aims to rebuild its appeal through measures such as reintroducing quality fabrics, investing online and revamping stores.

Over the next four years, it plans to open stores in prime locations, such as Bath, and exit a small number of loss-making stores.

Last month it was revealed that chairman Peter Williams had left the company after just six months in the role. Williams, the former boss of Selfridges who is now chairman of Boohoo and eyewear retailer Mister Spex, joined Jaeger in November.

According to accounts published on Companies House, Jaeger posted a loss of £6.64m in the 12 months to March 1, 2014, an improvement on the previous year’s £7.56m loss. Sales increased 13% to £78m during the period, while like-for-like sales were up 10%.

Private equity company Better Capital has owned Jaeger since 2012.

 

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