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LK Designer Shops Q3 loss widens 13.7% YOY

LK Designer Shops SA said its third-quarter normalized net income was a loss of 231,670 zlotys, compared with a loss of 203,730 zlotys in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 9.9% from negative 11.4% in the year-earlier period.

Total revenue increased 31.1% year over year to 2.3 million zlotys from 1.8 million zlotys, and total operating expenses climbed 27.1% from the prior-year period to 2.6 million zlotys from 2.0 million zlotys.

Reported net income totaled a loss of 370,670 zlotys, or a loss of 32 groszy per share, compared to a loss of 325,960 zlotys in the prior-year period.

As of Nov. 14, US$1 was equivalent to 4.12 zlotys.