Theo Fennell warns of full-year loss

The jeweller expects to make a loss in the full year to end-March 2009 after poor Christmas trading.

The group said that Christmas sales at the Theo Fennell flagship and City stores were significantly down year-on-year whilst international sales were flat.
Retail sales in the five weeks for the month of December 2008 were 21 percent lower than 2007 on a like-for-like basis.
Theo Fennell has decided not to renew contract to run Harrods luxury watch counters however Fennell’s jewellery counters will remain and a longer-term 3 year contract has been negotiated.

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