// Lush joins the list of high street chains hiking its prices in the face of rising inflation
// Retailers including Tesco, Inditex and Joules have also raised prices
Lush has joined the ranks of businesses, including Tesco, Inditex and Joules raising prices after the business reported a recovery in profits last year.
In January Lush hiked prices in the UK by an average of 8.5% and warned that inflationary pressures meant further rises couldn’t be ruled out.
Inflation has rocketed in the UK in recent months, with the Bank of England expecting it to reach around 8% this spring.
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The move comes as Lush’s financial performance improves. The cosmetics retailer’s underlying profits more than quadrupled to £41.1 million in the year to June after cost cutting boosted the bottom line.
Sales across the the business, which trades from 919 shops across 48 countries employing 8,638 staff, fell 6.6% to £408.7 million.
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