Fashion retailer Jigsaw is back in the black following a boom in sales of dresses and tailoring as customers return to stores.
Jigsaw has posted EBITDA of £3.6m for 2022/2023, up from £2.8m in the previous year. Operating profit was also up from £0.7m to £1.9m.
The fashion retailer also reported a 20% increase in sales year on year to £56.8m for the period, which it credited to people returning to their workplaces and shopping in-store post-pandemic.
Jigsaw noted a particular boom in the sales of dresses and tailoring.
It has improved the customer experience with the launch of its ‘’try before you buy” service, plus its in-house repair offer. These are said to have been “well received” by both new and returning shoppers.
Bricks-and-mortar stores remain “at the heart of the business” as Jigsaw opened two new stores at St Pancras International and Cheltenham. Its store estate total now stands at 45.
And while investment in the refit of some of its existing stores continues to deliver a “premium high street experience”, the company plans to invest further in digital capability, ranging and its supply chain, in a bid to expand its consumer base “without compromising on its heritage values”.
Jigsaw chief executive Beth Butterwick said: “Our positive results in 2022/23 demonstrate that the business restructure and renewed focus on enhancing our digital infrastructure and customer experience is bearing fruit.
“The hardworking teams across our Jigsaw stores have been at the forefront of delivering that success.
“Despite challenging market conditions for fashion retail, we are committed to continuing that growth over the next year and beyond by delivering what our customers value – high-quality, distinctive clothing that will last for many years.”