Jimmy Choo revenues on growth track amid ‘difficult’ market

Jimmy Choo in its trading update on trading since 30 June 2016 said that despite the continued difficult climate for the luxury industry, the company is seeing revenue growth driven both by new store openings and by improving retail trading in all regions in the second half, with continuing strength in China.

Commenting on the forecast based on current trading, Pierre Denis, CEO of Jimmy Choo said in a company release, “The company continues to grow and to build on the strength of the brand and new store openings. We look forward to achieving another record year despite the challenging backdrop, and remain on track to deliver underlying profits in line with expectations.”

Since June 30, 2016, Jimmy Choo opened four new DOS converted three stores to the new store concept, including its flagship store in Milan. The company witnessed like for like sales to date in the second half moving back into positive territory despite this disruption.

Through its focus on improving operating efficiency and cost management, the company expects to deliver margin improvement and strong underlying cash generation for the full year. The company also said that positive benefit from a weaker GBP continues, as do the resultant changes in client behaviour in the UK.

Picture:Jimmy Choo