Jessops, the UK specialist photographic retailer, yesterday revised its trading statement for the Christmas downwards following supply chain issues.
In a statement issued yesterday, the retailer said it had not been able to capitalise on the shopping rush in the run up to Christmas that bolstered the fortunes of other retailers, like John Lewis, during the period.
Lower December sales compared to last year reversed the positive like-for-like sales trend seen at the beginning of its financial year. In the six weeks to 5 January total sales fell 3%, which like for like was down 6.9%.
It said that, while demand for digital SLR cameras remained strong over Christmas: “We were unable to satisfy all of this demand due to major worldwide supply shortages on the most popular SLR models from the two leading camera manufacturers.”
It said this compounded the like-for-like sales decline in the period and has impacted profits. “We are working closely with both manufacturers to resolve these supply issues,” it said, adding that the market for compact digital cameras has softened.
Although the company took a cautious view of Christmas trading prospects in its preliminary results issued in last year, its Christmas trading update and sales figures for the trading period to 5 January 2007 have led it predict similar margins, profit and revenue for it year-end to the last.