Lounge sales increase but profits fall due to rising expansion costs
Underwear and apparel retailer Lounge has posted a fall in profits, despite a rise in sales for the 2023 financial year, due to rising costs from its growth strategy.
Underwear retailer Lounge reported profit before tax of £5.5m for the year to June 30, 2023, down 33% from £8.1m in 2022.
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