Jimmy Choo has reported a rise in like-for-like sales of 3.3% in the first half of the financial year.
The company’s pre-tax profit was £20.2 million compared to £1.3 million in the first half of 2014. Revenue increased by 6.5% at constant currency to £158.5 million.
Retail revenue rose 10.3% at constant currency or 9.6% at reported rates, driven by a mix of like-for-like and new space growth, including new stores and the shift of the stores in Singapore and Malaysia into retail from wholesale.
The upsurge in like-for-like sales came despite the temporary closure of a number of stores for renovation in the first half.
Chief executive of Jimmy Choo, Pierre Denis said: "We are pleased with our performance in H1, considering materially lower industry growth in the low single digits. Jimmy Choo continued to deliver well in this environment and ahead of the market, with net revenue growth of 6.5% for the half.
"Our brand and collections continue to resonate with our clients, against the backdrop of uncertain and challenging markets. We expect the benefits of our store development to build in H2, while the impact of changes to tourism is expected to continue to affect our retail business as it has in H1. The strength of the Cruise wholesale order book gives us confidence that the H2 wholesale performance will broadly offset the one-off effects seen in H1.
“We continue to execute on our strategy, remaining on track to renovate or relocate 10-15 stores and open 10-15 new stores in the full year.”
