Retailer loses share of compact camera market
Photographic specialist Jessops expects full-year profits to be in line with its expectations, despite tough trading conditions.
The retailer announced that total sales for the 25 weeks to September 18 increased by 0.7 per cent. However, overall like-for-like sales slipped by 2.6 per cent over the period, as a result of lower consumer spending and continued price deflation.
Jessops added that there are 'encouraging signs' coming from both the digital photo processing market and digital SLR cameras. Sales of digital cameras now account for 87 per cent of Jessop's camera sales. However, it warned that it is losing share in the compact camera market. An increased focus on camcorders boosted the retailer's share of this category.
Jessops will reveal it's preliminary results for the year ending September 30 on November 30.
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