Fashion retailer returns to profit
By Sarah Wood | 7th June 2022
Jigsaw was back in the black last year, as store closures paid off.
The fashion retailer, whose store in Cheltenham closed permanently during the pandemic, made a £1.2 million profit in 2021, compared to a £21 million loss in 2020, as reported by Retail Gazette.
Jigsaw said its improved performance was due to "a successful restructure of the business and investment across digital, stores and management".
The retailer closed almost a quarter of its stores during 2021 - going from 56 to 43.
It also worked hard on its digital offer over the year, with a new "digital-first" strategy, and a new web platform on Shopify Plus.
Jigsaw said its ecommerce delivered "strong growth" over the year and its remaining stores exceeded expectations when Covid restrictions were lifted.
Jigsaw also reached a wider audience by starting to sell products through M&S and Next.
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