Kurt Geiger steps into profit

Fashion shoe retailer Kurt Geiger has seen its sales increase 7 per cent. The company, which has almost 30 stores in the UK and Ireland in addition to concessions such as Liberty and other key department stores, created more than 300 jobs over its financial year.

Over the year to January 31 2009, earnings before interest, taxation, depreciation and amortisation (EBITDA) increased to £12.1m from £10m the previous year, a rise of 21pc. Sales increased by 15pc to £161.6m from £140m the previous year.

Neil Clifford, chief executive, said: “2008 was a very strong year. It demonstrated the company’s underlying resilience and diversity in what was a difficult economic environment…

“While the economic outlook continues to look uncertain, 2009 will build upon this resilience as the business is well positioned to take advantage of opportunities to both win and grow market share.”

He said that the chain saw a strong performance within department stores, including Harrods, Selfridges and John Lewis.

Over the year, Kurt Geiger opened five stores and seven concessions. The chain has also signed a seven-year license and distribution agreement with Nine West and Easy Spirit, the retailers.

Click Here: Spain Football Shop

It will open more overseas stores after securing a deal with Brown Thomas, the Irish department store, to operate the store group’s luxury shoe business. A further 12 Kurt Geiger stores are scheduled to open by the end of 2009.

Like-for-like sales performance across first six months of the year remains positive. In February 2008, Graphite Capital bought the chain from Barclays Private Equity for £95m. Barclays had bought the chain for £46m from Harrods, the department store group, in July 2005.

image: Carvela heels