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Reiss full-year sales hit £100m

Premium retailer Reiss has reported turnover of £100m for the 12 month period to January 31.

Sales increased by 5% from £95m in the previous full-year.

EBITDA for the period was £11.2m, a 14% decrease from £13.1m the prior year, as the retailer took the hit on commodity prices rather than increase the cost of product.

The Duchess of Cambridge helped raise Reiss’ profile “considerably”, the retailer said.

Reiss opened its first store in the US during the period via a shop-in-shop in department store Bloomingdales as well as its first owned store in Asia in Hong Kong’s IFC Mall.

A further 13 Bloomingdales concessions have either opened or are planned for the current financial year.

An additional two stores were also opened in Russia, giving Reiss a presence in both Moscow and St Petersburg.

A statement from Reiss said: “The UK store opening programme saw less activity, although a new store was opened in Westfield, Stratford East London, which is trading ahead of expectations.

“Online sales throughout the period continued to improve and were above expectations.”

In the current year, the retailer said its international division will focus on developing the brand through further concession and franchise opportunities.

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