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Reiss posts strong full year sales

The Reiss fashion brand saw its group sales climb by 21.9% to £227.4 million in the year to 1 February.  EBITDA growth was even better with… View Article

FASHION

Reiss posts strong full year sales

The Reiss fashion brand saw its group sales climb by 21.9% to £227.4 million in the year to 1 February. 

EBITDA growth was even better with the increase coming in at 51.6% to £29.3 million.

Meanwhile, full year like-for like sales rose by 21.6% following strong Christmas trading.

Christos Angelides, Reiss chief executive, said: “2019 was an excellent year for Reiss on all metrics and represents the culmination of driving Reiss through two years of transformation.

“We continued to invest heavily in the design, styling and quality of our collections. Customers have noticed the improvements by purchasing more clothes at full price on a like for like basis than ever before. This has had a very positive impact on profits which climbed significantly higher than sales.”

During the period Reiss opened 67 additional points of sale across the world, 18 of which were in the UK. It has now committed to opening an extra 58 points of sale during 2020. These includes sites on the US west coast in Nordstrom and Bloomingdales stores.

Angelides added: “I believe Reiss is now structurally well positioned for long term consistent growth. Reiss’ foundations are anchored to the legacy of the brand and developed with a modern and fast paced business in mind.”

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