Jimmy Choo plc (LON:CHOO) has been “trading strongly” in the year to date and in line with management’s expectations, according to a trading statement today.
Shares rose 1.27% to 200.0p in morning trading as the luxury shoe maker said it has seen robust growth in all its categories, driven by its men’s division.
The company, which in April announced it was considering putting itself up for sale, has opened six stores since the beginning of the year and has completed eight renovations.
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Jimmy Choo added that it has seen “strong progress” in Asia and Japan and “good development” in the US and the Europe, Middle East and Africa region.
In the US, the rollout of its omnichannel offering, which includes online shopping, has shown progress. Planned joint ventures in the UAE and South Korea remain on track for the second half of the year.
Chairman, Peter Harf, said: "The prospects for the business are stronger than ever. As a result of the investment we have made, we see significant opportunities for growth ahead of the market and margin expansion”.
In March, the company reported an 1.6% increase in full year revenue to £364mln and a 42.6% jump in operating profit to £42.5mln, adding that it was confident of delivering strong growth in 2017 despite "challenging market conditions and increased geopolitical uncertainty".
The luxury fashion sector has been hit by slowing sales as more customers shop online.