Women’s value retailer Bonmarché has recorded “satisfactory results” for the start of its financial year, but hopes that trading conditions will “normalise” after a challenging November.
For the 26 week period ending 26 September, Bonmarché enjoyed a 6.5% rise in total revenue, reaching £97m, as well as a 2% rise in like for like sales with particular improvement in de-seasonalised transitional ranges.
Like most clothing retailers however, sales were hurt off the back of unseasonably warm November weather.*
“Trading conditions during November have been challenging, due to very mild, wet weather,” said Chief Executive of Bonmarché Beth Butterwick. “Our expectations for the full year remain unchanged, provided that trading conditions normalise for the remainder of the financial year.”
Regardless of current trading conditions, Bonmarché remains on track with its strategy of introducing itself “to a wider audience.” The six months saw the appointment of a new multi-channel & marketing director, as well as the launching of a test TV campaign.
Eight new solus stores/ concessions were opened, in accordance with its full year programme. Additionally, the company’s store fascias are currently undergoing rebranding, with the goal of 140 being refreshed by the end of the year.
“Bonmarché’s performance for the first half of the year has been satisfactory and we have made further progress against our strategic objectives,” Butterwick continued. “I am pleased with the improvement in store like-for-like sales, which is a testament to the value of our loyal customer base, in a market which remains challenging. I am also pleased with the progress being made by the new marketing and multi-channel teams to turn around online sales.”