Sales soared by 48 per cent to£19.3 million in the year to March 30, when its profits rocketed 180 per cent to£2.8 million, chairman Peter Higgins revealed.
He said that robust online trading was also generating traffic in Cath Kidston’s 17 stores and expects sales growth of 40 per cent in the present year.
“There’s no doubt that within three years Cath Kidston can be a£50 million brand,” said Higgins.
Lower prices have helped performance. Higgins said: “Cath has always produced great product. About two and a half years ago we took the decision to bring prices down, so we are an affordable brand.”
Last year’s profit rise was partly attributable to the falling cost of operating the head office relative to the growing size of the chain. The retailer opened six shops last year and another four so far this year, including the first Cath Kids, a dedicated children’s shop, which opened in Chelsea in August.
The retailer opens its first Irish store next week, with an outlet in Dublin’s Dundrum shopping centre.
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