Neil Clifford

In a difficult year on the high street, Kurt Geiger defied the downturn once again under CEO Neil Clifford. Full-year sales and profits were up, despite a £4.1m hit following House of Fraser’s administration. Sales for the year to 26 January were up 3.1% to £334.6m.

Operating profit was up 13.4% to £27.9m. This included the impact of non-recurring items, including £4.1m of bad debt from House of Fraser’s administration. Without this operating profit would have been up 30% on 2018.

EBITDA, which does not include the cost of HoF-related losses, was up 9.1% to £36m. Profit after tax rose 20.5% to £27.6m year on year.

Kurt Geiger opened its first shop in India’s Delhi this autumn, following a new partnership with Reliance Brands-owned distributor Genesis Luxury. In May it appointed former Debenhams and Lloyd Shoe buyer Adam Schneider as its new own-label head of menswear.