Jacques Vert catches a cold as sales slow

The group, which also owns the Jacques Vert, Planet and Precis labels, said like-for-like sales were up 0.2 per cent in the 22 weeks since the start of May, after rising by 1.7 per cent in the first nine weeks of the period.

Jacques Vert, which sells through almost 1,000 outlets in the UK, Ireland and Canada, also warned sales had weakened further in the last three weeks and it was too early to say if this would continue.

The retail sector has taken a number of casualties amid a squeeze on consumer spending with womenswear retailer Alexon being the most recently hit after it was bought out of administration on Thursday.

Jacques Vert had been tipped as a possible bidder for Alexon as it also caters its ranges towards older women and sells through concessions in department stores.

Freddie George, an analyst at broker Seymour Pierce, said the positive sales growth was a good result as sales have been affected in recent weeks by a tough August and the recent hot weather.

Retailers have also increasingly felt the pinch from tough economic conditions as people stop spending as incomes are squeezed by higher inflation and stagnant wages.

The most recent CBI Distributive Trades Survey for September recorded its weakest year-on-year reading for retail sales volumes since May last year with volumes lower across all the main sub-sectors, including clothing.

Jacque Vert, which was established in 1972 by two London tailors, made profits of £5.3m in its last trading year to end April 2011 and finished the period with cash of £10.1m. Sales for the year were up 2.6 per cent at £118.4m.

Mr George kept his profits forecast for the year to next April unchanged at £5.5m after yesterday’s update, though he added results may be currently tracking below this projection.

Jacques Vert acquired the “quintessentially British” Windsmoor alongside Planet and Precis, which is aimed at ‘petite’ women, when it took over William Baird in 2002.

Last year the group also branched out online.