Fashion retailer Jacques Vert has reported pre-tax profits more than doubled for the 26 weeks to October 24, but warned of challenges for the remainder of the year.
Jacques Vert, which owns the Windsmoor, Precis, Planet and Jacques Vert brands, saw profits rise to £2.9m before tax, compared with £1.1m last year. Sales for the period were up 1.6% to £55.8m with a stronger margin of 65.3%, compared with 62.4% in 2008. Like-for-like sales rose 0.2%.
Jacques Vert chief executive Paul Allen said: “Sales performance improved continually over the period and the autumn winter 2009 product ranges have performed strongly. We have been particularly pleased with the performance of our online sales.”
Jacques Vert has also seen a continued strong performance in the ten weeks since October 24, with like-for-like sales climbing 2.1%.
Chairman Steve Bodger added: “Although there is still turbulence in the market and we face some challenges during the remainder of the year, we are confident that we are well placed to continue growing the business.”