Don't miss out28 Sep 2009 11:24
Jacques Vert Plc
AGM Statement
Steve Bodger, Chairman of Jacques Vert plc, the womenswear clothing retailer,
will make the following statement at the Group's Annual General Meeting to be
held later today:
"On a like for like basis, sales in the first 22 weeks of the current financial
year were 0.8% lower than last year. However, I am pleased to report that, due
to careful management of markdown and stronger full price sell through, gross
margin achieved was around 2.5% higher compared with the equivalent period last
year. As a result, the Board expects that the Group's profit before tax for the
full year to April 2010 will exceed the current market expectation."
"We have also been encouraged by initial customer reaction to the new Autumn
2009 season collections. While it is still very early in the season, this
positive response provides some confidence in the continuing development of our
product. Nonetheless, we continue to be mindful of the highly uncertain economic
outlook and will continue to manage costs and cash closely".
- ENDS -
Note to Editors:
The Group retails four womenswear brands: Jacques Vert, Windsmoor, Planet and
Precis. Sales are made predominantly in the UK, Canada and Eire through circa
1,000 outlets and via the Internet.