Jessops experiences Xmas sales drop

"Much work remains to be done" says executive chairman Adams
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Jessops has announced that total sales for the seven week period to January 6th were down 20.6 per cent when compared to like-for-like sales.

The photographic retail chain said that the sharp decrease in like-for-like sales was not down to poor trading, but rather its closure of 81 of its outlets earlier in 2007.

Like-for-like sales from the beginning of the firm's financial year were down 4.7 per cent, while total sales were down by 24.4 per cent. It said comparable sales were 0.3 per cent ahead of the same period last year.

Speaking about the results, Jessop's executive chairman, David Adams said: "We were prepared for a tough Christmas trading environment and managed the business accordingly.

"Strong working capital management aligned with a robust sales performance has resulted in an improved stock profile. We have a clear position in the digital imaging market with a full range of products and services.

"Much work remains to be done to return the business to sustainable profitability and this performance over the key Christmas period is an encouraging step."

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