RNS Number : 5157P
Jimmy Choo PLC
18 November 2016
 

18 November 2016

 

Jimmy Choo PLC

Trading Update

 

Jimmy Choo PLC, the British luxury brand specialising in shoes and accessories, releases the following update on trading since 30 June 2016.

 

Despite the continued difficult climate for the luxury industry, Jimmy Choo 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.  The brand continues to demonstrate its attraction for new and existing clients alike, with a particularly strong profile for our 20th anniversary celebrations.

 

Since 30 June 2016, we have opened four new DOS, one in each region.  Three stores were converted to the New Store Concept, including our flagship store in Milan (which was closed for two months).  Our like for like to date in the second half has moved back into positive territory despite this disruption.

 

Through our focus on improving operating efficiency and cost management we expect to deliver margin improvement and strong underlying cash generation for the full year as a whole, with steps towards further deleveraging.  The positive benefit from a weaker GBP continues, as do the resultant changes in client behaviour, notably in respect of the UK.

 

Pierre Denis, Chief Executive Officer of Jimmy Choo PLC, said:

 

"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."

 

The company will next update on trading in January 2017.

 

Enquiries

 

Jimmy Choo PLC

+44 (0) 207 368 5000

Pierre Denis, Chief Executive Officer

 

Jonathan Sinclair, Chief Financial Officer and Executive Vice President

 

Victoria Huxster, Head of Investor Relations

 

 

 

 

Montfort Communications

 

+44 (0) 203 514 0897

Hugh Morrison

+44 (0) 7739 655 492

Sophie Arnold

+44 (0) 7881 580 756

 

 

Notes to Editors

Jimmy Choo encompasses a complete luxury accessories brand.  Women's shoes remain the core of the product offer, alongside handbags, small leather goods, scarves, sunglasses, eyewear, belts, fragrance and men's shoes. CEO Pierre Denis and Creative Director Sandra Choi together share a vision to create one of the world's most treasured luxury brands.  Jimmy Choo has a global store network encompassing more than 140 stores and is present in the most prestigious department and specialty stores worldwide.  Jimmy Choo PLC is publicly listed on the London Stock Exchange with the ticker CHOO.

Certain statements made in this announcement are forward-looking statements.  Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from any expected future results in forward-looking statements.  Jimmy Choo PLC undertakes no obligation to update these forward-looking statements and will not publicly release any revisions it may make to these forward-looking statements that may result from events or circumstances arising after the date of this document.  All persons, wherever located, should consult any additional disclosures that Jimmy Choo PLC may make in any regulatory announcements or documents which it publishes.  All persons, wherever located, should take note of these disclosures.  This announcement does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any Jimmy Choo PLC shares, in the UK, or in the US, or under the US Securities Act 1933 or in any other jurisdiction.


This information is provided by RNS
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