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Reuters
Published
Jan 13, 2011
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Jacques Vert H1 profit rises on online growth

By
Reuters
Published
Jan 13, 2011

Jan 13 - British fashion retailer Jacques Vert Plc posted a 7 percent rise in first-half pretax profit, helped by growth in its online business, but remained cautious about the rest of the year on an uncertain retail outlook.

Jacques Vert
Jacques Vert

The company, whose brands include Jacques Vert, Windsmoor, Planet and Precis Petite, said on Thursday recent trading conditions were tougher and the economic outlook provided further concern.

Like-for-like sales in the 11 weeks since the end of first half were up 1.9 percent.
"Performance was severely impacted by the poor weather in December. This resulted in sales in the three week period ending Dec. 24 being significantly down on last year, although sales rebounded in the two weeks following Christmas," Chief Executive Paul Allen said in a statement.

Northern Europe's big freeze wreaked havoc after extreme weather conditions across the continent disrupted shopping plans of many during the vital Christmas trading season.

Retailers across northern Europe were hit by heavy snowfalls over Christmas and data showed overall British retail sales slipped in December.

For the 26 weeks ended Oct. 23, pretax profit rose to 3.1 million pounds ($4.9 million) as sales grew 1 percent to 56.5 million pounds.

Jacques Vert shares, which have risen 23 percent over the past year, closed at 14.75 pence on Wednesday on the London Stock Exchange.

(Reporting by Tresa Sherin Morera in Bangalore; Editing by Vinu Pilakkott)

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