The New York-based fashion group reported a year-over-year increase of 112.5% in its second-quarter sales on Thursday, growth which allowed the company to make significant progress in reducing its net loss.
LK Bennett is launching the fashion rental service that was flagged earlier in the year. LK Borrowed, its first monthly subscription rental service, lets shoppers “rent some of our most popular pieces”, it said.
The NYC-based fashion group has announced that it achieved net sales of $57.5 million in the first quarter, up 47.5% from $57.5 million in the prior-year period, progress which allowed the company to reduce its loss.
The New York-based fashion group revealed its preliminary Q4 financial results on Thursday, reporting a decrease of 28.4% in its net sales as the Covid-19 pandemic continued to take its toll on the company’s operations.