Geiger counts on women's 'love of shoes' to boost earnings

High-end footwear retailer Kurt Geiger yesterday credited its fifth consecutive year of record results to women's ongoing love of "statement" shoes.

The group - which sells its own-brand shoes as well as footwear by Jimmy Choo and Christian Louboutin - said sales of designer shoes reached a new high during the year, with concessions within department stores such as Harrods, Selfridges and Liberty doing particularly well.

The group also saw a rise in sales outside of the UK capital, with 50 per cent of shoes sold on the internet bought by women living outside London.

It added that one in every ten pairs of shoes sold online was bought in the middle of the night, as women looked for a late-night shopping fix.

Internet sales tripled during the year, with online purchases now accounting for 15 per cent of the group's own-brand sales.

Overall, like-for-like sales rose 8 per cent during the year to 30 January, with the group selling ten pairs of shoes every minute.

It also received a boost from the current trend for towering heels, revealing that prices rose by 20 per cent for each additional centimetre in a shoe's heel.

There was record demand for 12cm platforms during 2009, while clogs and sheepskin-lined boots have been the best sellers this year.

Turnover increase by 17 per cent to 162 million during the year, while earnings before interest, tax and amortisation were up 21.2 per cent at 14.7m.

The group opened 12 stores during the year, bringing the total number worldwide to 63.