In a remarkable financial turnaround, Robinson Webster (Holdings), the parent company of Jigsaw, has reported a net profit for its most recent fiscal year. The company experienced robust double-digit sales growth and saw significant improvements in profit margins.
During the fiscal year ending in January, Jigsaw’s sales surged by an impressive 19%, reaching £56.8 million. This surge was complemented by a noteworthy increase in profit margins, rising from 59.4% in the previous year to an impressive 64%.
These positive results translated into a substantial rise in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) from £2.8 million to £3.6 million. Equally noteworthy is the company’s net profit, which reached £0.8 million, marking a substantial turnaround from the £1.3 million loss reported in the previous period.
Robinson Webster expressed satisfaction with the consistent upward trajectory of these critical business metrics, especially in the context of a challenging and uncertain retail landscape.
The company highlighted the outstanding performance of two categories, tailoring, and dresses, reflecting a resurgence in customer interest in more formal attire, particularly as employees return to traditional workplaces. Tailoring, historically a cornerstone category for Jigsaw, is set to receive further investment to modernize supply chains and fabrications within this segment.
The success of Jigsaw’s physical stores played a pivotal role in its financial achievements, with the company expanding its retail footprint to 45 locations through additional store openings during the year. However, it remains cautious about further store expansion due to cost pressures on the high street.
Nevertheless, Jigsaw continues to invest in its existing locations and digital infrastructure. This strategic investment has not only enabled the relaunch of its international business but has also enhanced its ability to deliver personalized online experiences to its valued customers.
