Alexon reports flat like-for-like sales
Alexon, the womenÂ’s fashion group, has reported a rise in like-for-like sales for the 22 weeks to 2 July of just 0.9%.
The group, whose brands include Dash, Eastex, Ann Harvey, Minuet and Kaliko, said margins were slightly down due to earlier promotional activity.
The company said: “This period incorporates a difficult start to the high summer sale reflecting lower footfall in June but is a creditable performance given the current market environment."
Alexon highlighted the fact that strong trading at the Alexon, Kaliko and Eastex brands, where the summer collections had been well received, had helped offset the negatives at Dash and Minuet.
The group is also exploring options for a “more appropriate capital structure” for its turnaround programme and said: “Accordingly, the group is actively exploring options for a more appropriate capital structure which will firstly reduce the debt in the business and secondly enable the group to invest in the next stages of the turnaround plan. Such investment would be targeted towards the group's systems infrastructure and would take account of what is expected to remain a difficult economic and retail environment in the near term.”
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