August 17, 2017

Owners of Just Jeans and Jay Jay’s to close 50 stores

Mark McInnes is putting the sexual harassment drama at David Jones behind him and closing stores to pass the time.

Premier Retail, the owner of major fashion brands Just Jeans, Jay Jays, Peter Alexander, and Portmans has announced the closure of 50 stores and staff reductions.

After what Chief Executive, Mark McInnes called “challenging” conditions in the retail sector. He said the company relied heavily on trade over the school holidays but sales had been sluggish during the recent holiday period.

“Our business is highly school holiday [July] dependent,” Mr McInnes said in a statement today.

Shoppers failed to walk into stores for the midyear sales. “We have not experienced the expected uplift from July school holidays across Australia and New Zealand that we experienced in April. In addition, margin has remained under pressure, as industry wide discounting has increased.”

Premier Retail, formerly the Just Group, owns brands such as Just Jeans, Jay Jays, Portmans, Jacqui E, Peter Alexander, Dotti and Smiggle.

Premier Investments chairman Solomon Lew described the company’s profit performance as “disappointing”, notwithstanding the very “challenging retail environment”.

While Premier Retail has said how disappointing and challenging life is for them. They have yet to announce which stores are closing and how many redundancies there will be.

Newswarped thinks that is a very “disappointing” display of corporate communications.