The closure of ten stores saw Jaeger’s sales fall but enabled the British brand to reduce its annual operating loss by 19 per cent to £6.6 million on sales of £78.4 million for the 12 months to 27th February 2016. The business grew its online sales by 19 per cent over the previous year and has since relaunched its website, deploying personalisation and enhanced navigation which should result in further online growth.
Better Capital had invested an additional £10 million during the year in which interim CEO Chris Horobin took the reins from Colin Henry in November. Horobin commented, “There has been good progress made in reshaping our store portfolio and tighter stock management improved margins in the second half of the year.”
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