THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE

Bonmarché posts drop in sales after 'challenging' fourth quarter

Women’s fashion retailer Bonmarché has seen its full year like-for-like sales decline by 1.5% after sales on the same basis fell by 7.4% in its fourth quarter.

FASHION

Bonmarché posts drop in sales after 'challenging' fourth quarter

While online sales climbed by 31.2% in the 13 weeks to 31 March, like-for-like store sales dropped by 11.1%. This meant that in the full year to 31 March, like-for-like store sales were down 4.5% while online saw an uplift of 34.5%.

Despite the fall in sales, Bonmarché said its full year pre-tax profit will be in line with expectations.

Whilst total sales for the year saw a small decline, Bonmarché said its gross margin percentage was resilient. The lower headline gross margin that had been anticipated due to adverse currency movements, was largely mitigated through tight stock control and improvements to the retailer’s loyalty scheme, which led to lower discounting.

The retailer also made significant savings on its overheads due to improved operational efficiency and reduced, but more effective, marketing expenditure.

Helen Connolly, chief executive of Bonmarché, said: "As anticipated, trading conditions in the final quarter of our financial year remained challenging and, against this backdrop, I am pleased that we have delivered an increase in the FY18 profit before tax compared to last year.

"Whilst we expect the market to remain difficult, our focus will be on continuing to improve our proposition to customers through a number of self-help initiatives, which we expect to drive further progress for the business during the new financial year.”

At the end of the financial year, Bonmarché traded from 325 stores compared to 327 in the previous year.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy