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.

STAY UP TO DATE: You want the need-to-know news, right? Our journalists deliver a daily curation of the most important industry happenings. Sound good? Join WGSN.

Know what’s next. Become a WGSN member today to benefit from our daily trend intelligence, retail analytics, consumer insights and bespoke consultancy services.

WGSN Insider Bulletin

Big data meets consumer insights. Experience WGSN.

Related Stories

Bitcoin Pizza Day: How two pizzas chart the rise of the cryptocurrency


The future of retail: AI spending is set to boom


M&S to shut 100 stores by 2022, radical plan for “fewer, better” fashion doors