UK: Jaeger buoyed by strong Christmas sales
Online sales helped Jaeger to report a double-digit increase in Christmas sales
Upscale British fashion brand Jaeger has reported double-digit Christmas sales growth, helped by "strong" online sales, and a "robust" performance from its stores.
Total sales grew 31% during the five weeks to 28 December, compared to the same period of the prior year, while like-for-like sales were up 32% year-on-year.
The company today (13 January) said its five-year strategy of taking Jaeger back to its premium British heritage and re-establishing the brand amongst its core UK customers is "progressing well".
The short-term strategic focus, it added, remains on rebuilding the UK business through focusing on commercial opportunities, investing in online, re-introducing premium quality fabrics, increasing marketing spend and refurbishing stores, before expanding the business internationally.
During the 13 weeks to 28 December, the group saw total sales grow 20% year-on-year, with like-for-like sales rising 23%.
Growth was driven by "strong" online sales growth of 57%, underpinned by recent website enhancements, and a continuing "robust performance" from retail stores, which were up 10% year-on-year on a like-for-like basis.
Sales at concessions increased 21%.
By category, women's coats and outerwear and dresses performed particularly well, both increasing by over 40% year-on-year. Men's wear also delivered strong results with coats and outerwear, knitwear and tailoring posting double digit growth.
CEO Colin Henry said: "We are extremely pleased with this strong performance, particularly as trading across the sector during this period was very competitive.
"It is still early days in our turnaround and there is much to do to capitalise on the significant opportunities that we have. This performance gives us good momentum as we go into 2014, our 130th year, where we shall continue to develop the Jaeger brand and progress with our strategy."
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