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Turnover up 5.2% as Jack Wills plans Far East stores

Jack Wills has reported a 5.2% increase in turnover to £129.3m as the retailer plots to open three new stores in the Far East by the end of the year.

The company will open its first stores in Singapore and Macau and its fourth store in Hong Kong later this year.

The expansion comes as the business doubled its EBITDA for the year to February 2 to £7.2m.

However the group reported a loss for the year of £6.2m, a £1.9m improvement on 2013, due to £2.8m of exceptional charges arising from the closure of the Aubin & Wills stores and ongoing restructuring costs.

Wendy Becker, chief executive, said: “We are pleased with these figures, particularly in the light of the challenges faced by the retail sector over the past year. There is strong demand for our brand and the Far East represents an increasingly important market for us.”

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