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Gloucestershire Business News

Jack Wills makes £7.5 million loss

Preppy fashion brand, Jack Wills, made a loss of £7.5 million in the year to 28th January 2018.

The retailer, which has stores at Gloucester Quays and on Cheltenham's Promenade, made a profit of £6.3 million in the previous year, as reported by Retail Gazette.

Sales fell by 1.1 per cent to £129.3 million. Jack Wills blamed the fall on the competitive clothing market and consumers being careful with their money.

It said the business has improved significantly since then and is looking to return to sustainable growth by improving its product range and re-engaging with customers.

The company recently completed a significant refinancing, with continued support from its major shareholder, BlueGem.

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