Jacques Vert today (28 November) issued a profit warning, attributing weaker sales to low consumer confidence and unseasonably warm weather.

The UK occasion wear brand said that for the first 29 weeks of the year, sales are up 0.8%, with like-for-like sales falling 0.3% over the period.

The company said margins also came under pressure as it responded to promotional activity in the market and looked to stimulate demand to keep stock levels under control.

Jacques Vert also it has been affected by costs relating to the consolidation of its warehouses to a single site, and upgrading IT systems. The company emphasised that the new systems will deliver significant operational efficiencies and cost savings going forward.

Shares in the company were down 9.09% to 12.5p a share at 11:28 (GMT) today.