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Reiss' recession initiatives boost EBITDA

Reiss said its sub-brand launch 1971 Reiss and its revamped website helped UK EBITDA to rise 7% to £9.1m for the year to January 31 2010.

Sales (excluding VAT) at Reiss increased 5% to £85m during the period.

Reiss added that its US EBITDA losses had narrowed marginally from £2m to £1.9m over the year.

Reiss, which trades from 106 stores, said the recession had initially had an effect on its menswear sales but that the management had reacted immediately by investing in hiring people and in developing its brand image rather than focusing on store roll outs. This included investment in its buying team to ensure its product was differentiated from the competition.

During the period the retailer also launched its sub-brand 1971 Reiss and relaunched its website as well as developing a new-look shopfit. Reiss added that the main effects of these initiatives came through towards the end of 2009 and have had a bigger impact in the current financial year.

A company statement said: “The performance in 2009 has enabled Reiss to establish a stronger foundation to develop the business and the directors consider that the actions they have taken will continue to improve profitability.”

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