Sales down at Austin Reed

By THIS IS MONEY
Updated:

 

THE 170 people queueing outside Austin Reed's Regent Street branch on 27 December were not enough to make its sale period anything more than satisfactory. While other mid-range retailers such as Next reported exceptional trading figures last week, Austin Reed said today that like-for-like sales are still down.

Chairman Colin Evans claimed a 'distinct improvement' in trading since October when like-for-likes were down 10% but he gave no more details beyond stating: 'We're a bit below last year.' He said the group would meet market expectations of about £6.25 million pre-tax profits for the full year.'Leisurewear has generally done well but what has been tough has been formal clothing,' he said.

Most watched Money videos