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Jaeger’s losses stick but sales flourish- as owner explores a sale of the brand

It’s a tough time for  Jaeger; the UK-based fashion retailer failed to turnaround last year’s losses despite a strong rise in sales.

The Better Capital-owned brand reported a pre-tax loss in the year to February 28 were £15.4m, down just £0.4m from the previous year.

Total sales increased 6% to £84.2m, while comps jumped 8%. Online sales leapt 42% thanks to mobile and tablet sales, which now account for 36% of online sales.

The group blamed last autumn’s mild weather, which led to more and deeper promotions, hitting gross margins by 2%.

Total womenswear sales increased 4% as a 20% rise in outerwear and knitwear, up 9%, offset a 15% decline in dresses.

At the end of the summer Better Capital hired advisers at AlixPartners to explore options, including a sale. It is also preparing to depart its London, Regent Street flagship next year after 80 years.

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