Reiss sales recovering
Fashion chain Reiss has seen sales recovers strongly this year after being hit hard by the pandemic in 2020.
In the 30 weeks to August 29 sales for the group, which has a store in the new McArthur Glen Designer Outlet at Cannock, were were £124.2 million – 52 per cent higher than 2020 and eight per cent higher than the pre-pandemic year in 2019. The period includes 10 weeks in 2020 when all UK stores were closed due to the pandemic.
Reiss made a loss before tax and exceptional items of £3.8m in the year to January 30 due to the pandemic on sales of £170 .7m – 24.6 per cent lower than 2019's £226.5m
Chief executive Christos Angelides said: “Reiss has recovered strongly from a challenging 2020, and the creation of our new casual collections has proved successful with our customers.
"As the impact of the pandemic recedes and the economy recovers, we are also seeing a strong return in sales of occasion and formal wear – our speciality since 1971.
"We are working closely with Next plc to integrate our logistics and website onto the Next Total Platform, set to go live in early 2022. I am confident that this partnership will lead to further sales growth, in addition to cost synergies and operational efficiencies.
"Following the success of our adult clothing collections, I am excited to announce that we will launch a childrenswear collection for the first time in Reiss’ 50-year history in October this year and we will also launch a collaboration with Castore Sportswear.”
