Jack Wills ended a challenging 2016 with a rise in sales and profit margins thanks to cutting back on discounts during the Christmas trading period.
According to The Times, the preppy fashion retailer had a one per cent up tick in like-for-like sales during December, while its profit margin increased by six per cent compared with the same period in 2015.
Co-founder Peter Williams, who returned to the helm of the company last year after a difficult few years for the British brand, said the latest trading update was boosted by the introduction of a women‘s activewear range – which was officially launched this month but first appeared on the racks in December.
READ MORE: New co-owners for Jack Wills after 41% drop in profits
Williams also teamed up with the private equity owner of London‘s Liberty department store, BlueGem Capital Partners, to gain a majority stake in Jack Wills after buying out longstanding shareholder Inflexion Private Equity in October.
The 42-year-old told The Times that he is now working to resolve the issues caused by an outsourced warehouse that led to a £15.1 million pre-tax loss in Jack Wills‘ financial year to January 2016.
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