Chief Executive, Reiss
Christos Angelides’ focus on product and people is helping Reiss to withstand conditions on the high street. Two years ago, his appointment at the premium retailer was welcomed by industry insiders, who pointed to his product background and international experience. They have been proven right.
Reiss reported an 8.3% increase in sales to £186.3m for the year to 2 February 2019, and a 21.3% rise in EBITDA to £19.3m. Group sales for the 10 weeks to 13 April were up 27.9% year on year to £36.5m. UK like-for-like sales were up 27.6% and international sales were up 38.6%. This was in stark contrast to Reiss’s performance two years ago, when operating profits slipped 12.1% to £15.2m in the year to 28 January 2017.
Angelides attributed its turnaround to a reduction in discounting, and ongoing investment in product, people, operations and infrastructure. New RFID technology in stores aids stock control.
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