Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Losses mount at Jane Shilton

Handbag and footwear business Jane Shilton has reported a pre-tax loss of £1.9m for the year to June 30, 2012, as it prepares to sell its footwear division.

Turnover for the period was £14.7m, down 3.2% from £15.2m the year before. It comes on the back of a £575,000 loss in the previous 12 months.

Jane Shilton, which operates 39 department store concessions in retailers including Beales and Browns of York, said it made an operating loss of just over £1m as a result of the wider trading environment.

“The retail environment has remained challenging, with continuing demand for promotional activities,” the directors’ report said.

“The effect of unseasonal and disruptive weather patterns in 2012 has resulted in further lost revenue.” The business also had to write down nearly £750,000 as an exceptional charge from its footwear concessions business, as part of its plans to sell the footwear division to retailer Shoon.

Although no figures have been disclosed, the report noted the sale, which will be completed on July 31 this year, “will have a positive effect on cash flow” at the business. Jane Shilton will then focus on the wholesaling, commissioning and brand licensing of handbags.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.