Record profits for Kurt Geiger

Kurt Geiger has reported record profits and a promising outlook. The luxury shoe chain said earning had risen 10 percent to £7.2 million in the fiscal year ended 28 January, while sales gained 5 percent to £110.5 million. The company added that the current financial year had "started well", with sales up 22.5 percent and like-for-like sales generating "double digit growth". Concessions in department stores like Harrods and Selfridges account for 90 percent of total sales. "2005 was a significant year for Kurt Geiger. We've achieved record growth, opened new outlets, entered new partnerships and launched into international markets. We're confident that this success will continue in 2006 and beyond," said chief executive Neil Clifford. The group has opened four new stores and six concessions in the last year, taking the total number of outlets to 87. This year Geiger opened four more stores, including outlets at Luton airport the Met Quarter in Liverpool. Trading there rose 20 percent above expectations. The company also recently opened a store in Paris and will open a new flagship store in Regent Street in London this August. Over the next four years, 20 more sites have been selected for store openings.