Shares in Jimmy Choo are strutting forwards this morning, after the upmarket shoe retailer shrugged off difficulties in the wider luxury industry to increase revenues and return to like for like growth in the third quarter of the year.
At publication time, shares are up 3.9 per cent, to 133p.
Luxury groups have been struggling with weaker demand, particularly in Asia, but Jimmy Choo said it was enjoying “continuing strength in China” despite the “difficult climate”.
The company said improving efficiency and cost management would also help it to deliver higher margins for the full year, and contribute toward reducing its debt.
The trading update didn’t give exact numbers on trading so far in the second half, but the company said it is enjoying revenue growth driven by both new stores and improved trading.
Pierre Denis, Jimmy Choo chief executive, said:
The company continues to grow and to build on the strength of the brand and new store opening. We look forward to achieving another record year despite the challenging backdrop, and remain on track to deliver underlying profits in line with expectations.
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