Jimmy Choo Cashes In On Men's Shoes

Jimmy Choo said men's shoes continued to be its fastest growing category as overall sales rose 5.5% to £158.5m for the first half of the year.

However, the luxury shoe company said revenues were hit by the depreciation of the euro against sterling.

The pound is 6.7% stronger against the euro than it was this time last year.

The Ruble's weakness led to a decline in Russian tourist traffic, which caused a 4.5% fall in sales at its European and Middle Eastern stores.

However, the Chinese, who are now Jimmy Choo's largest tourist group helped to offset lower Russian demand.

Whether this will continue given the recent stockmarket turmoil in China will become apparent when the company releases its full year results.

The firm said: "The continuing economic and political issues in Greece, Eastern Europe and Russia impacted local demand in certain markets".

Sales were also hindered by the temporary closure of a number of stores for renovation in the first six months of the year, including the Sloane Street branch in London.

Jimmy Choo shares were 2.3% lower in early afternoon trading, having risen 15.3% since its float in October last year.