Jigsaw posts 8 percent increase in annual sales

Clothing retailer Jigsaw has reported an 8 percent increase in its annual revenues to 94.7 million pounds (123 million dollars) for the year ended October 1, 2016, reports City A. M. The report further said, the sales growth was driven by 18 percent jump in UK online sales and 11 percent rise in profit to 6.2 million pounds (8 million dollars) in the UK.

The report added that the company as also established an employee ownership deal under its CEO Peter Ruis, who joined Jigsaw from John Lewis in 2013. As per the agreement, those employees who have completed over one year with the company were given at least one share in the company, and also on the Christmas Eve in 2015 received a dividend of 400 pounds (519 dollars) per share.

The report quoting the company’s accounts filed at Companies House for the year ending 1 October 2016, said that total dividend pay out reached 1.6 million pounds (2.08 million dollars).

Jigsaw is exploring possibilities of expanding its online and brick-and-mortar presence and recently announced a new store in the new King's Cross development.

Picture:Jigsaw website