Instore warns that profits will be below market expectations.

Sales have been affected by a combination of deteriorating market conditions and distribution centre supply difficulties resulting from new warehouse management software.

The company said:”The distribution centre position has now been stabilised and December sales are more encouraging with like for like sales for the two weeks ending December 16th
up by 1.9%; year to date like for like sales are up by 4.6% Christmas trading is, as always, very important to the full year outcome. Nevertheless, the effects of the November trading performance, combined with the previously reported costs of the ongoing stock clearance and restructuring programme, are likely to result in full year profits being materially below current market expectations”.

RELATED ARTICLES