// Bonmarché like-for-like store sales plunges 11.1%
// Total sales year-on-year fell by 8.1%
Bonmarché has posted a plunge in sales over the Christmas period as a growth in online revenue failed to offset declining in-store sales.
The fashion retailer revealed that like-for-like store sales declined by 11.1 per cent in the 13 weeks to December 29, while its total sales year-on-year fell by 8.1 per cent during the same period.
Online sales saw an improvement of 22.2 per cent during the period while like-for-like sales across store and online declined by 7.8 per cent.
Gross margin remained in line with revised forecasts and were lower than the previous year due to additional discounting.
Bonmarché said its winter sales had initially started on a good track and it continues to trade in line with revised expectations.
“Clearly, in the short time since our last update, macro market conditions have not changed, but I am pleased that the sale stock is clearing well and that trading is in line with our revised expectations,” Bonmarché chief executive Helen Connolly said.
“In the short term, we continue to focus on ending the year with a clean stock position and ensuring that our balance sheet remains healthy.
“Looking forward, the board remains confident in Bonmarché’s prospects and strategy, and we will continue to drive the implementation of our previously outlined plans, maintaining a particularly strong emphasis on increasing multi-channel sales.”