La Senza back in black after closing branches

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The Independent Online

The lingerie chain La Senza has bounced back into profit following the company's drive to reduce costs and sell more of its products at full price.

But the retailer admitted last year was challenging. Its private equity owner, Lion Capital, was forced to acquire 100 per cent of the long-term debt of La Senza from lender GSO Capital after certain banking covenants were breached. La Senza made a pre-tax profit of £3.56m in the year to 27 March, following a loss of £7.63m a year earlier, according to accounts filed at Companies House. The return to profit was driven partly by closing branches and cutting staff.

While total sales tumbled by 6 per cent to £118.61m last year, Beverley Williams, the commercial director at La Senza, said its underlying sales were up by 5 per cent since the end of March.

The improvement is being driven by focusing on its core lingerie and nightwear ranges, as well as selling a higher proportion of stock at full price.

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