Beatties warns on lower trading
Department store operator sees challenging market
July 30 2002
Department store retailer James Beattie has warned that lower-than-expected sales at its flagship Brimingham store could hit profits.
The company expects its first half results to fall below the good performance recorded last year, and joined other retailers in warning that market conditions are tough.
Total sales are currently 15 per cent up on last year, but sales at Beatties’ new Birmingham store, which opened in September last year in the refubished former C&A store, are below expectations. The nearby Solihull store has been hit by the Touchwood Court centre, anchored by John Lewis. However, Beattie said its Huddersfield store, which opened in March, has started well.
The company said its final perfomance will rest on the success of Christmas trading, and it is cautiously optimistic that like-for-like second half sales will show an improvement. The company operates ten department stores in the Midlands and North of England, and has further openings schedued for Telfords and Gloucester.
