Women’s fashion retail group Jacques Vert has reported a seven per cent increase in pre-tax profits to £3.1 million for the first half of its financial year.
The year-on-year improvement for the Precis, Planet and Windsmoor owner was helped by continued growth of the firm’s e-commerce channel and rationalisation of underperforming retail space, according to CEO Paul Allen.
Total sales were up 1.3 per cent to £56.5 million during H1, while like-for-like (LFL) trading increased by 3.1 per cent.
Gross margin slipped slightly to 65 per cent over the half-year period, while LFL sales in the 11-week pre-Christmas build-up from October 2010 rose 1.9 per cent.
Chairman of Jacques Vert Steve Bodger commented: “I am pleased to report a solid performance during the first half of the financial year.
“The group’s brands performed well in a competitive market and there is further scope for our online business to realise its full potential.”
In November Jacques Vert announced it had invested in new technology with the aim of improving its e-commerce operation.
A statement from the retailer revealed that early this year it would be implementing Retail Assist’s supply chain ERP solution Merret and Maple Lake’s QuickAssortment merchandise and assortment planning software.
It is expected that the new software will improve IT performance and financial reporting, as well as boost store replenishment and warehouse management processes.
Bodger added: “Recent trading conditions have been more challenging and the economic outlook provides further concern, but we feel the strength of our brands and our financial position will stand us in good stead in the market.”