Fashion retailer Bonmarché has issued a profit warning, citing weak demand on the high street and a long summer as damaging sales at its bricks and mortar stores.
The low cost apparel brand said that while its online channels were still performing in line with expectations for its second quarter, high street stores had endured a tougher summer period than predicted.
Lower footfall and a warm end to the summer has damaged demand for Bonmarché’s autumn ranges, with underlying pre-tax profit for the year now expected to come in at £5.5 million.
“These are undoubtedly challenging times in the retail industry and, in common with many other businesses, Bonmarche’s store trading has been impacted by weaker consumer sentiment and footfall,” said chief executive Helen Connolly.
“We have continued to improve our proposition, particularly our digital capabilities, reflected in the strong online sales.”
“We remain focused on exploiting the opportunity afforded by the increasing demand for online shopping, whilst modernising the store offer and customer experience”, Connolly added.