Edinburgh Woollen Mill’s profits rise in ‘turnaround’ period

Edinburgh woollen mill canterbury by bill hutton 23266223739 07466e1d4a o

The Edinburgh Woollen Mill group has posted an increase in profits as the fashion retailer continued to expand its luxury division.

The group – which owns brands Edinburgh Woollen MillJaeger, Austin Reed, Berwin & Berwin and Jacques Vert – recorded £23.4m profit after tax for the 27-week period to March 2.

Group sales for the period were £327.14m, but a year-on-year comparable was not given. For the 78-week period from 2018, sales were £935.8m.

Edinburgh Woollen Mill posted profit after tax of £12m and Peacocks posted profits after tax of £17m. During the period, Jaeger losses narrowed to £1.1m and seven new store locations were added to its portfolio.

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