Fashion United

Kurt Geiger reports pre-Covid uptick in sales and profits

Kurt Geiger reports pre-Covid uptick in sales plus profits

Kurt Geiger saw the sales and profits edge up within the year to 1 February 2020, just before the pandemic required a grip on the worldwide fashion industry.

Sales in the luxury British footwear plus accessories retailer increased several. 7 percent to 347 million pounds in the calendar year, according to accounts filed from Companies House.

The store said these figures had been “pleasing in light of the broader subdued retail trading atmosphere with factors in the UK specifically” such as Brexit uncertainty.

The business achieved total like-for-like store growth of 3 %, and a stronger level of development in Kurt Geiger fronted fascias of 7. two percent on a multi-channel foundation.

FY21 to be ‘materially impacted’ by the pandemic

EBITDA improved 11. 5 percent to forty. 2 million pounds for your year, while operating income was up 22 % to 29. 7 mil pounds, which included one-off global expansion costs and pregressive costs associated with the launch of the new warehouse management program.

The company closed the year along with cash reserves of eighteen. 1 million pounds.

As the retailer didn’t reveal any kind of figures relating to the current financial year, it did state it expects FY21 income and profitability to be “materially impacted” by the pandemic.

TOP DOG Neil Clifford said the business is “committed to growing from the pandemic a more powerful and new meaningful brand name that has much closer contacts to our much-valued customers, workers and suppliers”.

Picture credit: Kurt Geiger

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