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April 18, 2015 4:38 AM ET

Textiles, Apparel and Luxury Goods

Company Overview of Jimmy Choo PLC

Company Overview

Jimmy Choo PLC manufactures and sells shoes and accessories for men and women in the Americas, EMEA, Asia, the Middle East, and Africa. It offers pumps, sandals, wedges, boots, flats, and trainers; bags, such as shoulder bags, totes, cross body bags, and evening bags and clutches; and accessories, including wallets and purses, small leather goods, belts, scarves, sunglasses, hats and gloves, and fragrances for women. The company also provides dress and casual shoes, bags, accessories, and sunglasses for men. In addition, it offers bridal shoes, and bags and clutches. The company offers its products through directly operated stores, multi brand wholesale stores, franchise stores, department s...

10 Howick Place

London,  SW1P 1GW

United Kingdom

Founded in 1996

979 Employees

Phone:

44 20 7368 5000

Key Executives for Jimmy Choo PLC

Chief Executive Officer, Director and Member of Conflicts Committee
Total Annual Compensation: $637.9K
Chief Financial Officer, Executive Vice President, Director and Member of Conflicts Committee
Age: 52
Total Annual Compensation: $103.3K
Compensation as of Fiscal Year 2013.

Jimmy Choo PLC Key Developments

Jimmy Choo PLC Reports Preliminary Consolidated Earnings Results for the Year Ended December 31, 2014

Jimmy Choo PLC reported preliminary consolidated earnings results for the year ended December 31, 2014. Total revenue was £299.7 million against £281.5 million last year. Adjusted EBITDA was £50.2 million against £46.9 million last year. Adjusted EBIT was £35.4 million against £35.0 million last year. Adjusted EPS was 6.1 pence against 5.6 pence last year. The company reported 12.2% constant currency net revenue growth led by retail as well as by performance in Asia ex-Japan and Japan.  Adjusted EBITDA grew by £3.4 million or 7.2% compared to the prior year.  This represents a strong result for the group in a year which saw significant foreign exchange headwind. Adjusted EBIT grew more modestly than adjusted EBITDA, as expected, increasing by 0.6% compared to the prior year as a result of additional depreciation and amortization, which increased by 26.3% as a result of the investment in new stores, refurbishment of stores and improvements to the group's information systems. Adjusted EBT for the year was £28.3 million against £23.6 million last year.  Adjusted consolidated net income for the year was £22.9 million against £21.0 million in the preceding period. Free operating cash flow decreased from an inflow of £8.8 million in 2013 to an outflow of £4.1 million largely due to the impact of exceptional payments associated with the IPO. Net debt reduced from £582.4 million at December 31, 2013 to £125.6 million at December 31, 2014 following the conversion of the shareholder credit facility from JAB Luxury to equity in October 2014 prior to IPO. External net debt increased from £121.9 million to £125.6 million, principally due to the timing of drawdowns on the revolving credit facility to fund IPO related costs.  Operating profit before exceptional costs was £37.1 million against £31.2 million last year. Operating profit was £24.1 million against £25.1 million last year. Loss before tax was £8.3 million against £21.4 million last year. Loss for the year was £10.8 million or £0.12 per basic and diluted share against £17.7 million or £176,680 per basic and diluted share last year. Net cash inflow from operating activities was £22.5 million against £31.3 million last year. Acquisition of property, plant and equipment was £27.2 million against £17.5 million last year. Acquisition of other intangible assets was £0.5 million against £4.3 million last year. Adjusted operating cash flow was £46.3 million against £45.7 million last year.

Jimmy Choo PLC, 2014 Earnings Call, Mar 19, 2015

Jimmy Choo PLC, 2014 Earnings Call, Mar 19, 2015

Jimmy Choo PLC Announces Directorate Change

Jimmy Choo PLC announced that Judith Sprieser has informed the company that she intends to step down from the board of the company with immediate effect for personal reasons unrelated to the company. Bob Singer will take up the positions of Chairman of the Audit Committee and Chairman of the Conflicts Committee with immediate effect. The Board has commenced a process to identify a new independent non-executive director to replace Judith Sprieser as soon as practicable.

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