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

Wholesale booms at Hackett but pre-tax losses widen

Men’s lifestyle brand Hackett saw sales rise 42% to £52.7m in the year to March 31, 2009 helped by a strong performance in its wholesale arm.

However, pre-tax losses widened in the year to £753,000 from £698,000 the year before.

Wholesale turnover grew 34% over the year helped by expansion into new markets, according to figures at Companies House. The company said steady growth was expected to continue in its wholesale division, with new partnerships developing in the Middle East and Far East. It has more than 620 stockists worldwide.

Hackett said in a statement that it had suffered from the downturn in the second half of the year which had dragged down performance.

The company said that margin growth had been affected. It said: “This was due in part to the impact of pressure to discount in the retail sector in the second half of the year and partly due to the weakening of the pound.”

Retail turnover rose 9% over the year with an uplift in UK sales from Hackett’s Westfield London store and strong online growth.

Hackett is owned by Spanish investor Torreal, which bought it from Richemont in 2005. It has 16 stores and 36 concessions globally.

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.