Luxury shoemaker Jimmy Choo put its best foot forward yesterday, a positive trading update sending its shares soaring to their best one-day rise since floating on the stock market in 2014.
Shares in the maker of £2,995-a-pair Cinderella heels surged more than 13 per cent to close at 109.2p. That compares with a flotation price of 140p and follows a share slump for the brand.
Jimmy Choo said: “Despite the headwinds facing the majority of the sector in 2016, our successful growth strategy continues to deliver.”
The group said it was “on track to deliver margin improvement and good cash generation, which means we will see further de-leveraging in the second half of the year”.
Peter Harf, chairman of Jimmy Choo, said the brand continued to “resonate with our clients and opinion leaders alike”, and that there was potential in China “where the brand remains under-penetrated”.