LK Bennett reports annual loss of 4.5 mn pounds

In its accounts filed with the Companies House, LK Bennett has reported a loss of 4.5 million pounds (5.7 million dollars), while sales dropped 1 percent to 92.3 million pounds (117 million dollars), reports The Industry.

The report adds that this annual report covers the year to July 30, 2016, about two months before the Darren Topp and Michael Hitchcock joined LK Bennett as Chief Executive and Chief Financial Officer, respectively. Quoting non-executive Chairman Patrick Woodall’s statement, the report said, like-for-like sales increased 1 percent and online sales rose 19 percent for the year under review.

He added in the statement quoted by The Industry, that Topp has undertaken a growth plan that focuses on Founder Linda Bennett’s original vision of delivering affordable luxury and is fully supported by all of the shareholders.

Founder Linda Bennett, who opened the company’s first store way back in in 1990, in Wimbledon continues to remain one of its largest shareholders in LK Bennett and has returned to the company as a consultant.

Picture:LK Bennett website