Bonmarché reveals Q1 growth as turnaround strategy begins to pay off

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Bonmarche

Fashion retailer Bonmarché  has revealed promising growth in its first quarter, pointing to signs of a recovery following dismal results in June.

In the 13 weeks to July 1, Bonmarché saw sales rise 7.6 per cent.

In-store like-for-likes jumped 4.2 per cent, while online sales shot up 39 per cent.

This will come as good news for the retailer‘s chief executive Helen Connolly, who joined the company in August last year and was dealt with a 40 per cent drop in profits for the full year in June.

A turnaround strategy is understood to be in the early stages of implementation, and Connolly believes it is already paying off.

“I am pleased with the improvement in trading and in particular the further progress in online sales,” she said.

READ MORE: Bonmarche‘s annual profits slump

“Whilst we are in the early stages of implementing our strategy, I am encouraged by the positive response from customers to the developments in our ranges and the improvements we are making to the shopping experience.

“The improved sales performance during the first quarter, achieved in a clothing market which remains challenging, underpins our confidence in the strategy, and our expectations for the full year remain unchanged.”

Bonmarché stated that its first quarter results are in line with the board‘s expectations.

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