Jack Wills: Reduced store count impacts full year sales

Jack Wills, the fashion brand owned by Frasers Group, reported a revenue decline for the year ending April 28, 2024.

Sales fell to 19.1 million pounds, down from 28.4 million pounds the previous year, primarily due to a reduced number of physical stores.

In a filing with Companies House, the company revealed that underlying EBITDA dropped from 10.2 million pounds to 5.06 million pounds, reflecting a corresponding decrease in operating profit.

"The elevation strategy continues to enhance and improve our stores and digital operations, product offerings, and marketing channels. This is crucial for strengthening relationships with key third-party brand partners, delivering consumer benefits, and driving long-term profitability," the company stated.

Jack Wills was acquired by House of Fraser in 2019 after going into administration. The brand is trying to remain focused on adapting to changing market conditions and maintaining its presence in the competitive fashion sector.