Johnson pressed as the recession bites - Business - Evening Standard
       

Johnson pressed as the recession bites

Dry-cleaning is something people cut back on in a recession, judging by figures from Johnson Services today.

The owner of more than 500 shops under its own name and nine Jeeves of Belgravia outlets said revenues were down 4% in the first two months of this year.

That follows a 2.5% fall in same-store sales in the first half of 2008 that speeded up to a 3.9% decline in the second half.

Operating profits from the dry-cleaners dropped from £6.6 million to £4.2 million.

"Sales have been slightly down on last year in the first two months of 2009," said executive chairman John Talbot.

"Not hugely, but dry-cleaning will continue to be affected by the lack of confidence on the High Street."

To counter this, he is keen to open more concessions within supermarkets, where footfall has remained relatively strong.

Talbot was brought in as a turnaround specialist just over a year ago, and the market applauded the fact that he now appears to have at least stabilised the business, which also includes textile rentals and facilities management.

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