Lingerie business Rigby & Peller has reported a loss before tax of £214,142 for the 12 months to the end of January.
Sales fell 1% to £9.84 million over the period, according to accounts filed at Companies House. The loss compares to a pre-tax profit of £167,928 the previous year.
Rigby & Peller’s operating losses were £215,291 for the year compared to an operating profit of £121,175, impacted by the costs of opening a new store and expanding the business’ head office.
The company said that although the figures were disappointing they were satisfactory considering the overall state of the economy.
The accounts stated that Rigby & Peller was “well positioned to benefit from an upturn in the overall economy”.
It said: “The company has invested in training and developing its staff and will continue to do so in order to maintain to high standards of customer service it is known for.”
Rigby & Peller said it would continue to look for new store opening opportunities and had invested in new website technology to grow sales.
In August the company rejigged its buying team.