Bonmarche posts sales drop
Bonmarché, like many of its competitors, has posted a fall in its sales over the key Christmas period. Its like-for-like store sales dropped by 11.1 per cent in the 13 weeks to December 29, with total year-on-year sales down by 8.1 per cent during the period. Online sales however rose by 22.2 per cent. The retailer said that its winter sales had initially started on a good track and that 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.”