Women’s fashion retailer Jacques Vert yesterday warned that its pre-tax profits are likely to be lower than expected due to the recent warm weather.
Although sales for the first 29 weeks of this financial year are 0.8 per cent per cent higher than last year, like-for-like sales have decreased by 0.3 per cent. The group has pinpointed feeble consumer confidence as the cause of weakened sales as well as the unseasonal weather which has hit coat sales particularly hard.
Jacques Vert has responded by putting promotional discounts in place, in a bid to increase sales.
The company reported a creditable performance overall, stating that its balance sheet remains strong.
Its shares tanked 9.1 per cent to 12.5p yesterday.