CANADA: La Senza Enjoys Return To Profit In Q2
La Senza Corp says that good lingerie sales helped the business back to profitability during the second quarter.
Second-quarter net earnings were $2.1 million compared to a loss of $1.6m in the same period last year, with six-month net earnings totalling $3.8m compared to a loss of $5.8m a year ago.
Sales for the second quarter grew 12.2 per cent to $97.0m compared to $86.4m last year, while first-half sales totalled $180.4m compared to $157.4m a year ago.
Same-store sales for the second quarter rose 8.2 per cent from last year and six-month same-store sales rose 9.1 per cent.
Chief executive officer Irving Teitelbaum said: "These encouraging results are an excellent lead-in to the last half of the year where traditionally we achieve the major portion of our sales volume."
La Senza Corporation operates approximately 299 corporate owned stores under the La Senza, Silk & Satin, and La Senza Girl stores as well as 248 independently owned La Senza and La Senza Girl stores.
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