Online trading helps Jaeger FY sales; still reports loss

By

Cajsa Lykke Carlson

Published
Dec 1, 2015

British heritage fashion brand Jaeger saw sales increase by 6% to £84.2m in the year to February 28, 2015. On a like-for-like basis, sales were up 8%.

The company said this was supported by strong online sales, up 42% year-on-year and driven by continued investment into the online platform. Jaeger  launched a new website in February, and expects online sales to continue to grow at double-digit rates for the next few years.

Jaeger's new concept stores in Kings Road, London and Belfast have both performed ahead of the chain and this concept will now be rolled out to new stores, starting with Edinburgh.

However, trading at the retailer was impacted by mild weather, which especially affected the knitwear and coat categories. Gross margins fell from 56% to 54%, and the company made an operating loss of £8.1m. Total pre-tax losses fell but only slightly, down to £15.4m from £15.8m the previous year.