Jessops reports sales downturn
Photographic specialist Jessops today reported bottom-line profits of £5.9m (€8.6m) but said like-for-like sales were down after the growth in demand for digital cameras waned.
The retailer, which has more than 260 stores in the UK, six in the North and one in Dublin, said comparable sales were down 0.4% in the year ended September 30 after a difficult period in the spring. The like-for-like figure has since slipped to 3.6% lower in the eight weeks to November 27.
Profits for the year compared with £1.3m (€1.9m) in 2004, although the figure was down at an underlying level – from £15.3m (€22.3m) last time to £13.8m (€20.1m) today.
Chairman Gavin Simonds said: “The month of February saw a sudden downturn in the market with the strong growth in digital cameral sales we enjoyed ceasing.”
The company, which has more than 3,000 employees, completed its first year as a listed company in the UK this month.
