Hackett is hoping for more economic and political stability following Boris Johnson’s election win, the upmarket menswear retailer said on Thursday as it posted a fall in UK sales.
The firm, founded in 1979 from a Portobello Road stall and now with 11 standalone shops in the UK, said it wants to see “much-needed stability to the volatility of the market and uncertainty around Brexit”.
New accounts show UK turnover decreased 8.6% to £106.3 million in the year to March 31. That was mainly down to Hackett having exited some unprofitable wholesale partnerships, and the company doing less discounting.
Online sales surged 67.5%. Pre-tax losses narrowed to £7.6 million from £8 million.
The company, owned by Pepe Jeans, said global comparable sales rose 1% and reached €155 million (£132 million).
In 2019 Hackett agreed a deal to open a new London store at 14 Savile Row, comprising traditional shop floor space, space for bespoke tailoring and room for limited edition collections.
