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Friday May 23rd 2003
Kookai sales push ahead
Archived article dated Friday May 23rd 2003
Kookai: Conservative expansion policy
Profits increase for fashion retailer
May 24 2003
Fashion retailer Kookai Retail generated an operating profit of £1.2m for parent company Forminster in the year to March 1, compared to £329,000 in 2002.
The company said the Spring/Summer 2002 season traded strongly, with like-for-like sales up 14 per cent, while Autumn/Winter saw trading increase by 7 per cent in total and 4 per cent on a like-for-like basis, against strong comparatives the previous year.
The flagship Marble Arch store in London was closed for 13 weeks during 2002 season for a major redesign. The company said: "A lengthy closure of such a large store has inevitably affected turnover and impacted profits. However we are pleased with the performance and image of the new shopfit."Forminster is taking a "conservative" approach to expansion of Kookai, opening seven new concessions during the year, and closing two concessions and one stand-alone store. The business operates 56 outlets, with one new concession scheduled to open.
Tagged as: Kookai | Forminster
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