Mixed fortunes for Peacocks
Core chain strong but sales tough for Bonmarche
Peacock Group has seen a strong increase in group sales across its second quarter, but said it has found sales hard to come by in its Bonmarche clothing chain, which targets older women customers.
Across the 13 weeks to October 2, group sales are up by 10.3 per cent, and by 2 per cent on a like-for-like basis. The group operates the Peacocks, Bonmarche and Fragrance Shop chains.
The Peacocks chain has seen total sales increase by 11.6 per cent across the quarter, with like-for-likes up 5.9 per cent. Across the first half, total sales are up 15 per cent and like-for-likes up 9 per cent.
The group said womenswear and footwear again performed exceptionally well, and there has also been a much-improved performance in menswear as a result of a stronger buying team and better management of stock.
Peacocks continued its refurbishment programme, with 33 stores refitted during the quarter, as well as eight new stores opened. 68 per cent of the 411 store chain is now trading in the new format.
At Bonmarche, total sales increased by 5.1 per cent across then quarter, but like-for-likes declined by 6.39 per cent. Across the half, total sales grew by 4.4 per cent, with like-for-likes down 7.2 per cent.
[img r]bonmarchestore.jpg[/img]Peacocks said the unpredictable summer had an impact on performance at Bonmarche, but it has also identified product, merchandising and supply chain weaknesses which have now been addressed. The group said like-for-like sales growth at Bonmarche has been restored in recent weeks.
At the Fragrance Shop, acquired by Peacocks in February, there was a 70.7 per cent increase in total sales, with like-for-likes up by 12.1 per cent across the quarter. Six new stores opened, bringing the total to 36, and plans to open around 20 new stores in the current financial year are on track.
