UK: Jacques Vert warns of softer trading
Women's wear retailer Jacques Vert Plc today (30 September) said trading is marginally higher in the first part of its current financial year, but warned performance has fallen in the past three weeks.
Speaking at the Group's Annual General Meeting, chairman Steve Bodger said: "On a like for like basis, sales in the first 22 weeks of the current financial year were 0.2% higher than last year. This represents an encouraging performance in the current uncertain retail environment."
But he also noted: "In line with the general retail market there has been a weakening in sales and margin performance over the last three weeks, however it is too early to say if this is a trend that will continue.
The UK company, which operates around 1,000 outlets under the Jacques Vert, Windsmoor, Planet and Precis brands, in July said it remains cautious about business prospects this year, despite posting a 3.1% rise in pre-tax profit to GBP5.3m.
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