Bonmarché Christmas trading in line with revised guidance
Women’s clothing retailer Bonmarché has seen its like-for-like sales decline by 7.8% in its third quarter as trading remained in line with the revised guidance it gave on 13 December.
In the 13 weeks to 29 December online like-for-like sales climbed by 22.2% although this was lower than the growth seen in the first half of the year. In-store like-for-likes were down by 11.1% in the period, which was slightly better than the 12% decline predicted in December.
The retailer’s gross margin was in line with revised forecasts and below last year due to additional discounting and expected exchange rate headwinds.
The results meant that like-for-like sales in the 39 weeks to 29 December were down 3.3% with in-store sales declining by 6.4% and online sales rising by 26.5%.
Bonmarché said its winter sale has started well and that it is continuing to trade in line with its revised guidance.
Helen Connolly, Bonmarché chief executive said: “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. 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 multichannel sales.”
