Cutter & Buck Expanding

Cutter & Buck have reported record first-quarter sales of £18.25 million, and net profit of £625,000. Sales were up 64 per cent from the first quarter of the last financial year while net profits rose by 25 per cent.

Harvey N.Jones, ceo, said, "Fiscal 2000 is off to a fast start. Our recent follow-on stock offering allowed us to repay a significant portion of our current line of credit and will provide funds for continued growth in our existing business."

Cutter & Buck will open three new retail stores across the United States before the end of the year and have announced an exclusive distribution agreement with Seibu Department Stores in Japan.