Bonmarché warns on deeper losses
Women’s fashion retailer Bonmarché has warned that its full year loss will be more than expected following difficult March trading.
In a statement, the company said trading since the beginning of March has been significantly weaker and has reversed the sales gains made in the previous months.
If sales levels for the rest of March continue to follow this trend, Bonmarché said its underlying pre-tax loss for the year to the end of March will be greater than the £4 million it forecast in December. As a result, it now expects its underlying pre-tax loss for the year to be between £5 million and £6 million.
New Look said: “We believe that the recent downturn in trading is a consequence of the demand for transitional ranges, between winter and spring, having been satisfied during January and February.
“Although sales of spring season stock benefitted from the spell of warm weather in late February, this is not yet a large enough part of the sales mix to compensate for the lower demand for transitional stock.
“Nevertheless, on the basis of this positive early reaction to the spring product, our expectation for FY20 remains unchanged.”
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