Jessops cautious over Christmas trade

Photographic retailer Jessops said today it was taking a cautious view on trading prospects this Christmas.

The comments about the current soft market came as Jessops posted operating profits of £20m (€29.6m) for the year to September 30, an increase of 12.3% on a year earlier.

Jessops said like-for-like sales in its stores were 0.3% lower in the first eight weeks of the new financial year, but added that this had been more than offset by a 51.4% increase in internet sales during the period.

The group typically makes around 25% of its profits over the Christmas period and is more reliant on trade over the summer months, when customers buy cameras and print pictures for the holiday period.

Chief executive Chris Langley said: “We are taking a cautious view of the near term outlook in our markets, particularly by comparison with the very strong Christmas we enjoyed last year. Christmas is not as critical for us as it is for other retailers.”

UK-based Jessops has 288 stores, six in the North and one in Dublin.