Jaeger latest upmarket retailer to stride ahead of high street

 
Jessica Morris
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Jaeger's turnaround plan is bearing fruit (Source: Getty)

Fashion retailer Jaeger strode ahead of its high street competitors, reporting stellar sales during the Christmas period.

The upmarket brand said like-for-like sales jumped eight per cent in the 13 weeks to January. They were lifted by US-style discount days Black Friday and Cyber Monday.

Total sales grew 8.3 per cent, with menswear posting impressive growth of 14 per cent year-on-year. Womenswear rose six per cent during the same period largely thanks to surging cashmere sales.

Its flagship store on the exclusive Kings Road in Chelsea benefited from a revamp last September, with sales climbing 16 per cent. Online sales surged 78 per cent while click-and-collect was the star performer with an 82 per cent increase.

Ted Baker, also priced at the higher end of the high street, delivered excellent Christmas sales yesterday. It had snubbed the discounting frenzy by not making any big discounts to goods before Christmas.

Clothing brands Next and M&S have cited unseasonable weather as the reason behind disappointing Christmas trading statements.

Jaeger admitted it made price cuts in Autumn as warm weather kept customers away from the high street.

Jaeger chief executive Colin Henry said:

The consumer environment remains challenging, and there is still a lot of work to do transforming our store portfolio, building the brand and refining our online and in-store offer.

However, this performance gives us confidence as we enter 2015 and continue to develop the Jaeger brand and progress with our strategy.

Then loss-making Jaeger was brought by Better Capital in April 2012 after its sister company Aquascutum went into administration. The pair had previously been owned by famous fashion entrepreneur Harold Tillman.

Since then its five-year revival plan has sought to boost brand appeal by tapping into its British heritage. It has also reintroduced quality fabrics, invested online and revamped stores.

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