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Bravissimo growth investment eats into profits

Lingerie retailer Bravissimo increased sales 3.4% to £51.9m for the 12 months to 31 October 2017, driven by new and refurbished stores, and a growth in ecommerce sales.

Its most recent results filed at Companies House reveal gross profit margins inched higher during the year, from 56.5% in 2016 to 57.4% at the year end.

However, pre-tax profit fell from £2.2m to £69,187, which it said was a result of investments in people, property and marketing to significantly improve the sales revenue of the business in future years.

Bravissimo said it was not directly affected by the UK’s decision to leave the European Union, as sales to customers living in EU countries are a small proportion of its overall sales, but that it may be affected by changes in the general economy leading to reduced consumer confidence

“Bravissimo profitably grew during the recession that started in 2008 and the directors believe that the company is well placed to manage should economic conditions become more difficult,” it added.

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