Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Profits slip at Reiss amid international expansion

Operating profits at Reiss slipped to £15.2m in the 52 weeks to 28 January 2017, down from £17.3m the year before, as the premium retailer invested heavily in new international stores.

Total sales increased by 13% from £145.2m to £164.5m during the period.

Reiss opened new stores in US, Canada and Australia over the past 12 months and also launched a new ecommerce platform.

At the end of the period, Reiss was trading from 179 points of sale in 17 countries, up from 160 in 2016.

Former Next group product director Christos Angelides was appointed chief executive of Reiss as part of a “planned succession process” in February this year. He succeeded founder David Reiss, who remains chairman. Karl Doyle, former Marks & Spencer, Mothercare and Next director, also joined Reiss as a group trading director in October.

Reiss said: “Reiss continues to grow and develop benefitting from our excellent product offering together with domestic and international expansion. With a new chief executive in place and a strengthened management team, we look forward to continuing to invest in the business in order to position it for further growth and development.”

 

 

Tags

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.