Karen Millen festive like-for-likes jump as it boosts full-price sales

Total sales increased 10% at the premium fashion retailer in the three weeks to January 4. Like-for-likes rose 25% in Spain, 22% in France and 16% in Denmark.

Australian like-for-likes increased 7%. Overseas sales now accounts for 65% of total revenue

Karen Millen said that it achieved “good margin improvements” due to a greater proportion on full-price sales.

Karen Millen chief executive Mike Shearwood said: “It is a great endorsement of the desirability of our products and our strategy to maintain full-price sales by offering a higher level of product exclusivity right through to Christmas, despite the competitive environment we are in, and the challenging economic times for customers.

“This is one of Karen Millen’s most successful trading periods to date and puts us in a very strong position to deliver further growth. We have spent the last year investing heavily into the business and its infrastructure and we are hugely excited about the future as we continue to invest.”

Shearwood said Karen Millen was making “good progress” towards its target of 400 stores in 2014 and is aiming to add new countries to the 58 markets it currently operates in.

He said: “Our aim is to have global flagship stores in the major fashion capitals of the world supporting our full price trading stance. We believe we are very well placed to capitalise on the international growth opportunities ahead.”