Fashion retailer Jaeger put in a strong sales performance over the crucial Christmas period as its turnaround strategy bore fruit.
Jaeger, which is controlled by private equity house Better Capital, generated a like-for-like advance of 8% in the 13 weeks to January 3.
Total revenues climbed 8.3% in the period, when womenswear sales rose 6% and menswear was 14% up year on year.
However, mild autumn weather led to more promotions in November and December, which hit margin. Jaeger did not detail the exact impact.
A new store model delivered strong results. The King’s Road branch in Chelsea, London, where the design has been piloted, notched up a 16% sales increase following its refurb in September last year.
Jaeger, which has been developing its multichannel offer, reported that 39% of online sales came from mobile and tablet devices in the period.
Over the Black Friday weekend, online and store sales combined surged 77% year on year.
Jaeger chief executive Colin Henry was pleased with progress.
He said: “Whilst we are still in the early stages of our five-year turnaround, the improved performance from Jaeger online and at our new concept stores shows our strategy is paying off.
“The consumer environment remains challenging and there is still a lot of work to do transforming our store portfolio, building the brand and refining our online and in-store offer.
“However, this performance gives us confidence.”
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