Conservative approach to Christmas pays off for Jigsaw

ANALYSIS_ British privately owned fashion chain Jigsaw reported a 17 percent rise in underlying like-for-like for the Christmas trading period. Jigsaw chief executive Peter Ruis explained that the performance was helped by not going on sale before Christmas, as opposed to the vast majority

of its competitors.

Online sales surged an impressive 39 percent in the five weeks to December 28. For the year ended on September, 28, 2013 Jigsaw saw sales rise 7 percent to 64.2 million pounds while profit added 21 percent to 1.9 million pounds.

“We are pleased with the progress we have made during this period. Trading conditions remain challenging but we are optimistic for the current financial year. The focus will be on continuing to bring innovation to our customers, in both bricks and clicks, enhanced by significant investment over the next 12 month,” said Peter Ruis, Chief Executive Officer, when commenting the results.

Jigsaw

benefits from traditional discounting during Christmas

Jigsaw has enjoyed a record Christmas performance, with a 7 percent increase in sales to 64.2 million pounds in the year to September 28. Net profit rose 21 percent and online sales did the same by 36 percent.

The development of Jigsaw’s online presence has also added to the mix, as the fashion retailer has introduced a click-and-collect service in the autumn and later on, started to offer an enhanced delivery.

“The move to click and collect [and the] increased strength of the website, that has really worked well,” said Ruis.

“Following on from our heritage of unique retail design, it will be the first time our customer can access every element of the Jigsaw empire under one roof,” added Ruis, unveiling the opening of its new flagship concept store in London in April.