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Kurt Geiger increases sales by nearly 10% despite tough times for retailers
Handbags and footwear company credits US expansion and cost of living crisis for rising profits
Kurt Geiger increased sales by nearly 10% last year as the footwear and handbag retailer said it benefited from fashion fans switching to its more affordable luxuries during the cost of living crisis. Neil Clifford, the chief executive of Kurt Geiger, said underlying profits rose 34% to £40.4m on sales of nearly £361m – putting the group back on a par with its pre-Covid performance – and he expects further growth in this financial year. He said the focus on affordable luxuries, with everyday prices dropped but fewer discount events, had helped Kurt Geiger sell 50% more sandals than last year – despite the gloomy summer in Europe – while handbag sales were up 45%.
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