Put your shirt on buoyant TM Lewin

The company, which was founded in 1898 and now has 79 stores in the UK, reported operating profits of 9m in the year to February 28, while sales rose by the same rate to 83.4m.

It said the performance would have been better without the snow disruption in the early part of 2010 and added that sales in the first three months of the new financial year were up by 27 per cent on a year earlier.

The roll-out of new products helped drive the sales growth, with tailoring now representing 19 per cent of menswear sales and the newly launched Buckingham single cuff shirt also proving popular.

As a result of promotional activity needed to drive sales in the challenging environment, Lewin said its full-year gross margin fell back slightly after 10 years of steady growth.

It has been able to reduce the level of discounting in recent months and said it had regained margin since the year-end.

Chief executive Geoff Quinn, who has been with the company for 30 years, said the company had demonstrated its resilience in difficult trading conditions.

He added: "Our second half, which includes Christmas, is traditionally our stronger period and we are confident we will deliver full year results ahead of last year." The company, which employs 870 staff, opened eight new stores and one concession during the year.