Reiss swings into the black with record profits and sales

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Reiss has reported record sales and profits for the year to January 2022, despite its stores being closed for the first 10 weeks of the year

Reiss women's winter coats

Reiss sales were up 50% in the 52-week period to January 2022

The fashion retailer recorded profit before tax and exceptional items of £39.6m, up from a loss of £3.2m in 2020.

Reiss’ sales were up 50% to £256.6m in the 52 weeks to January 2022.

International sales now represent almost a third of the group’s overall sales, rising to £81.8m.

Reiss chief executive Christos Angelides told Retail Week much of this came from the US, where the brand has been expanding its store estate both with standalone shops and in partnership with department stores Bloomingdale’s, Saks and Nordstrom.

Online sales have grown to almost 50% of the business, while womenswear and menswear sales account for 57% and 43% respectively.

For the 26 weeks to July 30, total group sales were £146.8m – 38% higher than in 2021 and 42.7% higher than in 2019.

Angelides said the business’ record year was down to three key elements.

He said: “First and most importantly is the consistent design of very strong creative collections that customers want.

“Secondly, the fact that occasions have returned as a category and we’re famous for that area.

“And, thirdly, we’ve seen the recovery of strong store sales. We think that’s because customers are rediscovering their desire to touch, feel and try on clothes.

“Alongside that, we have updated the Reiss website so it’s easier for customers to use – things like checkout and navigation are easier.”

Reiss launched on Next Total Platform in February, which Angelides said allowed them to ensure better stock levels and delivery options.

“I think we’re in a very good moment, we’re in a very good place, and I feel there’s a lot of future growth available to the brand,” he said.