Lifebrandz spills more red ink as competitive club scene hots up
Published on Mar 13, 2014 9:25 PM
Lifestyle company Lifebrandz has reported a widening in second quarter net loss to $593,000 from $112,000 previously. Revenue for the three months to Jan 31 fell by 6 per cent to $6 million.
Sales during the festive period had been affected by lower patronage due to competition from other clubs.
Existing concepts of Aquanova, Mulligans and the new Fenix outlet were able to maintain their popularity.
The company noted that market condition in the industry had been challenging and competitive.
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