Fashion retailer Reiss has revealed sales growth of 18 per cent to Ā£67 million for the year to January 31.
EBITDA wasĀ£11.9 million excluding the impact of the retailerās US start up operation, down fromĀ£12.5 million the previous year. Operating profit also fell toĀ£8.8 million fromĀ£9.8 million.
In the US Reiss increased its loss toĀ£2.3 million as it attempts to build presence and an infrastructure in the country.
In a statement the directors of the company said that the retailer was āwell placed to improve its long term profitabilityā.
During the year Reiss opened its Los Angeles flagship store and also opened its 10,000 sq ft Barrett Street shop in London, which is also home to its new global head office.
It opened its first standalone accessories store and launched its transactional web site in the UK, which it will roll out to the US within two years.
By the end of this year Reiss will have almost 100 outlets worldwide.
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