Kurt Geiger reports pre-pandemic growth
However, expansion plans have been put on hold since the Covid-19 crisis began
Luxury footwear and accessories retailer Kurt Geiger has reported pre-pandemic growth to both its revenues and profits.
Accounts filed at Companies House revealed that the group’s turnover rose to £347m for the year ended 1 February 2020, a year-on-year increase of 3.7%.
Operating profit for the period also grew from £24.2m to £29.7m, while the full-year EBITDA was up 11.5% to £40.2m.
While the results do not take into account the impact of the pandemic on both the firm and the industry, the growth was branded “pleasing” in the face of a difficult period.
A statement claimed that the results provided a positive outlook in an otherwise “subdued retail trading environment”, as consumer confidence was dashed by “uncertainty over Brexit and political uncertainty”.
Looking at its performance during the pandemic, the group acknowledged that its sales would be “materially impacted” by the ongoing crisis.
While the firm’s digital platforms have continued as usual, its expansion plans have slowed to the addition of just one store to its global period.
Despite the slowing in growth, Kurt Geiger said it would continue to “pursue a strategic plan, developing our brand and offering our partnerships and platforms to customers”.
