Upmarket shirtmaker TM Lewin appeared to be avoiding the high street slowdown after revealing healthy sales growth.
The firm, which has several stores in London as well as one in Cannon Street, Birmingham, said revenues during its first quarter to May 24 were 16% ahead of last year, helped by the impact of 11 store openings in the previous financial year.
The figure represented an improvement on the full year's performance to February 23, which saw sales rise 14% to £63.4 million. Underlying profits were 21% ahead at £11 million.
Chief executive Geoff Quinn said: "We are pleased that the current financial year has started well. Whilst we are ever watchful of the impact of a more difficult economic environment, we have a financially robust business model with strong operational disciplines which we believe puts us in a unique position to build our business even in challenging times."
TM Lewin, which sold 1.8 million shirts during the year, said it would be focusing on expanding its womenswear range of shirts and business wear, which could involve operating standalone womenswear stores.
The group currently runs 57 retail stores - making up 82% of total sales - as well as a number of in-store concessions and a home shopping arm through mail order and the internet.
Nine of the 11 stores opened in the past financial year were in London, including five in the City.
TM Lewin also operates eight concessions in House of Fraser stores in Croydon, Guildford, Manchester, Leeds, Birmingham, Newcastle, High Wycombe and Dundrum, Ireland. Its home shopping arm saw sales rise 27% increase during the last financial year.
The business was founded in 1898 when Thomas Mayes Lewin opened his first shop in Jermyn Street, London. Management currently hold an 80% share, with the Royal Bank of Scotland owning the rest.
Last week upmarket fashion label Burberry also revealed a strong sales performance, with a 26% hike in revenues.