Fashion retailer Reiss has revealed sales growth of 18 per cent to £67 million for the year to January 31.
EBITDA was£11.9 million excluding the impact of the retailer’s US start up operation, down from£12.5 million the previous year. Operating profit also fell to£8.8 million from£9.8 million.
In the US Reiss increased its loss to£2.3 million as it attempts to build presence and an infrastructure in the country.
In a statement the directors of the company said that the retailer was “well placed to improve its long term profitability”.
During the year Reiss opened its Los Angeles flagship store and also opened its 10,000 sq ft Barrett Street shop in London, which is also home to its new global head office.
It opened its first standalone accessories store and launched its transactional web site in the UK, which it will roll out to the US within two years.
By the end of this year Reiss will have almost 100 outlets worldwide.
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