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Jigsaw, a fashion clothing retailer, has reported a fall in sales of £31m for 2020 as a direct result of the Covid-19 pandemic.
In reports filed by parent company, Robinson Webster, to Companies House, the group revealed that 60% of its revenue had been generated through online channels.
While Jigsaw has turned to a digital first approach, the closure of 77 stores and 42 concessions at various stages since March 2020 was attributed to have been a major factor in its revenue hit.
Also released in the filing was a 70-week financial statement to February 2020, where the group operated over an increase in turnover from 102m to £128.9m.
Moreover, its operating loss for the period fell to £4.9m, compared to £9.5m in the shorter financial year that preceded it.
Despite the pre-Covid positives, Jigsaw announced that the pandemic has forced it to streamline its operations, stripping the business back to its womenswear and UK priorities.
The statement read: “Following the balance sheet date, the directors made the decision to close the Australia business, this decision was made in July 2020, with the final trading of the David Jones concessions ceasing in September 2020.
“Finally, the decision was made in July 2020 to cease the menswear category – again this was to ensure that the business focused around its heritage of higher value womenswear and accessory categories.”
A spokesperson at Jigsaw said: “Jigsaw’s board has worked hard over the past few years to rationalise the business, and return to its core heritage offering of providing quality womenswear to the UK market.
“Progress was being made prior to the pandemic to improve the company’s profitability, and Jigsaw remains focused on its strategic agenda during the current challenging conditions.
They added that the company is in a “better place to capitalise” on future success through the “renewed focus on its core product offer”.
