Jaeger is hurt by high street downturn and end of Japanese deal
Saturday 14 January 2012
The luxury fashion brand Jaeger's profits fell last year by nearly two-thirds after it was hit by the downturn on the UK high street and the end of a Japanese contract.
The retailer, controlled by its chairman Harold Tillman, has more than 50 shops and nearly 70 concessions in the UK, as well as operations in five countries overseas. Pre-tax profits tumbled by 65 per cent to £772,000 for the year to 28 February 2011, on turnover up 10 per cent to £93.9m, according to accounts filed at Companies House. But stripping out the impact of the loss of £1m royalties from the termination of its Japanese licence agreement, Jaeger actually grew its underlying profit marginally to £6.2m.
Since the year end in February, Mr Tillman said: "The London market has been very positive. Outside of London certain parts of the country have been strong but overall it has been challenging." Mr Tillman failed to sell Jaeger early last year after he appointed advisers at Rothschild.
- 1 Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
- 2 Rarest Beanie Baby of them all could be sold for £62,500 on eBay
- 3 Driving while dehydrated can be just as dangerous as drink driving, study suggests
- 4 Ben Affleck asked TV chiefs to hide slave-owning ancestry, new hacked Sony emails published by Wikileaks claim
- 5 Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
Rarest Beanie Baby of them all could be sold for £62,500 on eBay
Professional big game hunter Ian Gibson crushed to death by elephant during hunt
Ben Affleck asked TV chiefs to hide slave-owning ancestry, new hacked Sony emails published by Wikileaks claim
Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...