LK Bennett report a 4.4% rise in sales in the last year subsiding a gross profit increase of 3.2% to £61.2m during the 12 months running up to August, 2014.
The upmarket fashion chain has entered the first-half of 2015 with confidence. The retailer received £95.3m in sales within the 12 months, and saw a respective 43% increase in its online sales representing 13% of all sales.
The British brand had a climb in sales after expanding its business over to the US market – opening stores in Boston, Chicago and a flagship store on New York’s Madison Avenue last month. Despite the company’s success, its investments overseas brought down its underlying earnings, which remained flat at £3.6m.
Chief Executive Robert Bensoussan said the business continues to make progress and its strategy is to focus on better performing stores and “continued rationalisation” of underperforming concessions and regional stores in the UK.
Bensoussan, who stepped back in as chief executive after previous boarder Didier Drouet was ousted last year said: “While trading conditions remain challenging, we have entered 2015 well positioned to continue to deliver on our growth strategy, building on a robust financial position, strong backing from our shareholders, a disciplined approach to cost and the recent strengthening of our senior team.”
By Natalie Whitmore