Austin Reed stores notched up a 2.7 per cent increase in like-for-like sales over the 15 weeks to January 14 and sales at the group's Regent Street flagship increased by 3 per cent.
Group like-for-like sales fell over the period by 4.8 per cent. The group also revealed today that a revised strategy of focusing on full-price sales has improved margins.
However, the effect of changes to Country Casuals' buying and design teams are not expected until later this year. The chain reported a 10.5 per cent fall in like-for-like sales over the period. It said: 'We are encouraged by the customer reaction to the early deliveries of spring 2006 products.'
Seymour Pierce analyst Richard Ratner said: 'Overall, better than we had feared and, as a result of the improvement in margin, we reduce our estimate of the loss for the year from£2 million to£500,000. For the following year, we look for a profit of£1 million rather than breakeven.'
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