Jigsaw owner posts 10m pounds in losses

Wednesday, 25 July 2012

9.98m pounds compared to the previous full-year when  it made a pre-tax loss of 121,000 pounds, for the full-year to October 1, 2011.

 According Jigsaw owner posts 10m pounds in lossesto Drapers Online, Jigsaw posted the biggest loss of of  21.2m pounds, which the company said was due to “one off changes arising from the decision to provide against intercompany loans and  investments.”

Earlier this year Robinson Webster Holdings announced that it was to  close its Kew 159 division after the spring 12 season. The company  would generate some cash by selling part of its Kew 159 store portfolio and using others to expand its Jigsaw brand.

As a result, the group will actively focus on the Jigsaw brand, and is  “seeking commercial opportunities to earn profit and add value by pursuing growth outside of the established store and web channels.”

 The group said it sees these opportunities coming from licensing and  franchise agreements for the Jigsaw brand both in the UK and overseas and also hopes to build on the success of its menswear business which  it relaunched earlier this year. Jigsaw’s concession and online  business is also being targetted for growth.

Kew 159 made a loss of 6.8m pounds in the full-year period as a result of unprofitable stores within its portfolio.

 

Bookmark or Share

| More

Related News

Related Websites

FashionUnited | Part of the FashionUnited Group | www.FashionUnited.info