Jigsaw’s restructuring and investment pays off
Jigsaw is celebrating improved full year results with EBITDA of £2.8 million and an operating profit of £1.2 million.
This compares to a loss of £21 million in the previous year.
Meanwhile, sales increased to £47.7 million in the year ending 29 January from £38.7 million in the prior 12 month period.
The fashion retailer attributed the performance to a successful restructuring and investment across digital, stores and management. This included taking a digital-first approach, developing new web and data platforms and recruiting digital marketing experts, as well as a redesign of its stores.
Looking ahead, Jigsaw said it will be focusing on its womenswear business as it looks to offer customers sustainable, high-quality clothing. In addition, it will continue to evolve its digital capabilities and grow its store portfolio whilst working on international expansion plans.
Beth Butterwick, chief executive of Jigsaw, said: “We are pleased to see Jigsaw’s improved results following the careful execution of our new business plan; and this is just the beginning. With last year’s investments delivering this year, our focus is now on future growth, building out our digital capabilities, store portfolio and team expertise further over the next 12 months.”
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