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Profits jump at Jigsaw

Jigsaw delivered a jump in profits of more than 20% over the last year as revenues also rose.

Sales at the retailer climbed 7% to £64.2m as net profits rose 21% to £1.9m in the year to September 28. During the 12 months, online sales grew 36% and its net trading margin improved by 160 basis points.

Chief executive Peter Ruis said: “We are pleased with the progress we have made during this period. Trading conditions remain challenging but we are optimistic for the current financial year. The focus will be on continuing to bring innovation to our customers, in both bricks and clicks, enhanced by significant investment over the next 12 months.”

Over the festive trading period the womenswear retailer saw sales rise against a tough “climate of aggressive discounting on the high street”. Like-for-like sales were up 17% for the five weeks to December 28 as web revenues also rose 39%.

Jigsaw is also planning to launch a new flagship concept store in April. The shop, which will cover more than 6,000 sq ft, will be located in central London.

Ruis added: “This exciting new store will be a radical departure, and begin the journey to re-define Jigsaw for the next decade. Following on from our heritage of unique retail design, it will be the first time our customer can access every element of the Jigsaw empire under one roof”.

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