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Reiss sales recover, to launch childrenswear in October

By Prachi Singh

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Report

Image: Reiss AW21

For the 52 weeks to August 29, 2021, total group sales at Reiss of 170 .7 million pounds rose 24.6 percent compared to the prior year and were down compared to 226.5 million pounds in 2019.

The company reported pre-tax loss of 3.8 million pounds compared to 2019 profit of 20.5 million pounds. Loss before tax and after exceptional items was 13.6 million pounds against 2019 profit of 20 .1 million pounds.

Commenting on the financial results, Christos Angelides, chief executive of the company said: “Reiss has recovered strongly from a challenging 2020, and the creation of our new casual collections has proved successful with our customers. I am excited to announce that we will launch a childrenswear collection for the first time in Reiss’ 50-year history in October this year and we will also launch a collaboration with Castore Sportswear.”

The company said in a release that since the start of the current financial year, there has been a very strong recovery in sales and Reiss expects the group to return to profit this year.

For the 30 weeks to August 29, 2021, total group sales were 124.2 million pounds, 52 percent higher than 2020 and 8 percent higher than the pre-pandemic year in 2019.

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