Friday, February 22, 2019

Bonmarche annual sales and like-for-likes slump

Bonmarche update

Womenswear retailer Bonmarche recorded a slump in full-year sales due to “challenging” market conditions since Christmas.

Sales at the value retailer dipped by 0.5 per cent while store like-for-likes fell by 4.3 per cent in the 53 weeks ending April 1.

Although online transactions went up by 2.2 per cent, total like-for-like sales still took a drop of 3.8 per cent during the year.

The results have led Bonmarche to warn on further challenges in the months ahead.

READ MORE: Bonmarché delivers “satisfactory” quarterly update

“As anticipated, trading conditions post-Christmas continued to be challenging, but this was accounted for when we issued the revised profit guidance last September, and therefore the final result for the year is in line with our expectations,” chief executive Helen Connolly said.

“Store like-for like sales were negative in January but stronger during February and March, and we also saw the resumption of growth in online sales following improvements made to our online offering.

“Whilst we expect the apparel market to remain challenging during the coming financial year, we are actively taking measures to improve our proposition to customers.

“We remain confident that Bonmarché remains unique in its ability to serve the needs of its target market.”

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