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Jigsaw experienced a 28.6% rise in EBITDA to £3.6m and an operating profit of £1.9m for the year ended 28 January, following the popularity of tailoring and dresses to boost sales.
The fashion retailer’s EBITDA and operating profit increased from £2.8m and £1.2m respectively in the previous year.
The retailer attributed its good performance to sales rising 19% to £56.8m in the year, thanks to tailoring and dresses performing strongly. Jigsaw said this reflects “customers’ rekindled interest in more formal categories” as people returned to the office.
During the year, the premium fashion retailer also continued to invest in its portfolio of brick-and-mortar stores, having opened two additional stores during the year. This took the total count to 45 across the UK.
In addition, it also invested in the refit of a number of existing stores in a bid to deliver a “premium” high street experience.
Beth Butterwick, CEO of Jigsaw, said: “Our positive results in 2022/23 demonstrate that the business restructure and renewed focus on enhancing our digital infrastructure and customer experience is bearing fruit.
“The hardworking teams right across our Jigsaw stores have been at the forefront of delivering that success.”
She added: “Despite challenging market conditions for fashion retail we are committed to continuing that growth over the next year and beyond by delivering what our customers value – high quality, distinctive clothing that will last for many years.”
