Jacques Vert, the struggling womenswear retailer, today warned that it expected the rest of the year to be “very challenging” after reporting a sharp fall in sales over the past three months.

Echoing the concerns raised by Marks & Spencer (M&S) last week, the group, which owns the Jacques Vert, Windsmoor, Planet and Precis brands, said that like-for-like revenues had slumped by 5.9 per cent since the end of April.

Steve Bodger, the chairman, said that the group was being affected by the difficult trading environment but insisted that its brands were performing well compared with the rest of the market.

He added: “I expect that the remainder of this financial year will be very challenging, but I am confident that the steps taken to consolidate our strong financial position will enable us to benefit from any improvement in the market.”

Annual results showed that underlying operating profits fell from £5.7 million to £4.7 million in the 52 weeks to April 26, in line with the guidance given in a profit warning earlier this year. The cash balance at the year end was £2.5 million.

Jacques Vert sold its manufacturing subsidiary in Sri Lanka in January to focus exclusively on retail.

Paul Allen, the chief executive, said the group’s priorities in the coming year would be managing cash and ensuring that stocks and costs are kept under tight control.

“We expect the remainder of this financial year will continue to be characterised by the difficult trading conditions.”

Sir Stuart Rose, executive chairman of Marks & Spencer, last week insisted that the majority of the retailer's problems had been caused by a “marked deterioration” in consumer confidence, rather than specific problems with the ranges in M&S stores.

M&S last week reported a 6.2 per cent fall in like-for-like sales in its general merchandise business, which includes clothing and homewares, over the 13 weeks to June 28.

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