Board exodus hits Jack Wills

FASHION chain Jack Wills posted a £1.5m fall in sales in a year which saw a mass exodus of directors.

Sales fell 1.1pc to £129.3m in the year to January 28 as younger shoppers shun preppy polo shirts in favour of casual streetwear brands. Jack Wills blamed the decrease on a High Street downturn, as shoppers go online.

Emily Salter, retail analyst at Globaldata, said Jack Wills needs to evolve faster to keep up with fashion trends.

‘Similar items [to its range] can be bought for a fraction of the price elsewhere,’ she said.

It follows a year of upheaval for Jack Wills which saw its co-founder and chief executive Peter Williams reportedly pushed out after clashing with owner, private equity house Blue Gem. Nine directors have quit since September 10, according to its latest accounts.