Fashion
Cath Kidston Japan sales outperformed every other market in the year to March, but not enough to stem losses by the UK-based company. Sales in Japan rose by 5.4 per cent after a net four new stores took the brand’s network there to 32. Ten more Cath Kidston Japan stores are planned there next year.
In China, Cath Kidston also performed well, aided by a new franchise deal which will see 50 shops opened over the next five years.
“The brand clearly continues to resonate with our loyal customer base, particularly in the UK and Asia,” said CEO Melinda Paraie.
“During the period the group continued to grow top-line sales, despite significant headwinds in some of the markets in which we operate,” she said.
“We are particularly pleased with the significant growth in ecommerce sales in both Japan and the UK, where a strong performance on Black Friday contributed to our best-ever week online.”
Despite the positive Asian results, Cath Kidston’s loss rose from £8.4 million in the 2017 financial year to £10.5 million this year. Paraie blamed “increased cost pressures from the weaker sterling” since the Brexit vote for the result. Worldwide sales rose 1.2 per cent to £130.7 million, with UK sales up by 5.1 per cent.
