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LK Bennett turnover falls following UK store closures

LK Bennett’s turnover fell 1.8% in the year to August 2015 as it shut some loss-making UK stores, but like-for-like sales grew by 5% in the same period.

LK Bennett

LK Bennett

LK Bennett

Group operating EBITDA increased to £3m in the year, up from £2.6m in 2014.

The retailer has been expanding overseas with a new flagship store in New York opened last year and another set to open at the World Trade Center in August, City AM has reported.

It has 130 stores and outlets globally, including 86 in the UK.

The retailer is also poised to open its first store in Russia in September and is exploring options in China, where it already operates branded shoe operations.

LK Bennett chief executive Robert Bensoussan, who co-owns the business through his private equity firm Sirius Equity, told the newspaper that last year “marked another stage in LK Bennett’s transformation” in growing the brand’s online and international presence.

 

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