High street presence less important for rugby fans' favourite
Hackett is refocusing its efforts away from its store portfolio and onto its wholesaling and licensing agreements. The menswear retailer, fronted by rugby golden boy Jonny Wilkinson, experienced a 1 per cent dip in sales for the 12 months to March 31 last year.

However, operating profit before tax was turned around from a loss of£482,000 the previous year to a£131,000 profit. The uplift was mainly because of the retailer's wholesale activities, which increased sales over the year by 12 per cent. Turnover grew to£21.6 million during the period, from£21.2 million the year before. The retailer said there was a net reduction of one store over the year.

Hackett runs 10 standalone stores, as well as five concessions at Selfridges and Harvey Nichols department stores. The retailer said in a statement: 'The company's priorities for the next 12 months are to maximise the retail contribution, drive wholesale growth - both locally and abroad - and expand the brand presence through licensing arrangements in key areas.'