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Limeys lifts Cruise’s sales

Cruise, the designer mini chain, saw sales leap 38.5% to £26.7 million for the year ended February 2, thanks to rapid expansion and the acquisition of Midlands-based chain Limeys.

Operating profit was broadly flat at the Glasgow-based business at £541,170 for the period while pre-tax profit fell by 34% to £348,119.

The figures included the rescue and integration of the five-store Limeys chain, which took place in May 2007, as well as the opening of stores in Chester and Aberdeen.

In a statement in the accounts filed at Companies House last week, Cruise said its decision to hold firm on Sale dates last year, despite the difficult retail climate, meant sales were sacrificed but that it had been the right decision for the long-term health of the Cruise brand and supplier relationships.

Cruise said that the start of 2008 had been “extremely encouraging” with the first three months results ahead of budget and with positive like-for-like growth in mature stores.
Cruise has 18 stores which stretch from Aberdeen in Scotland to Birmingham.

Cruise has been shortlisted for the Drapers Awards which take place on November 19. To book your seats for the event visit www.drapersawards.co.uk.

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