Jimmy Choo IPO: It's Profitable But Sales Growth Is In Decline

Jimmy Choo, the beloved upscale women's shoe brand, has filed for an IPO and its finances are ... OK.

Its revenue growth is in decline - to just 2.2% in like-for-like sales last year - although it is profitable.

The company did not reveal a standard net income number. Instead it revealed "adjusted consolidated net income" of £10.8 million on revenues of £120 million for the first half of 2014. The company had profits of £21 million on full-year revenue of £281.5 million in 2013.

The company said its sales growth would have been stronger if not for a store renovation program which reduced like-for-like sales by 1.6%. However, even if that is added back, it's still less than last year's 7.1% sales growth.

Perhaps most worrying, the company's cash flow is in a three-year decline:

The company, which has 120 stores worldwide, is adding 10-15 stores per year, which may explain where that cash is going.

About 25% of the company will be floated on the London stock exchange next month, The Telegraph notes.