Improvements in ranges lift results at Alexon
In its interim management statement for the period 1st August 2010 to 23rd November 2010, the Group says that it is performing robustly.
Group like-for-like sales for the period were up 0.4% with overall margin growth of 0.4 percentage points. Within this, across the six brands, Autumn Winter sales margin has increased by 2.8 percentage points, driven by improvements to ranges and a continued focus on improving control of promotional activity, combined with a focus on reducing the level of discounting across product ranges.
Trading performance across the entire brand portfolio has been encouraging in recent weeks.
The key focus of the board continues to be the acceleration of the turnaround following the successful Capital Raising of March 2010. The growth of the business through new store refits has continued. Each brand now has a new store design concept and the programme to roll these out has begun. Stores refitted to date have out-performed our expectations in both sales and margin.
The Group continues to invest in their online capabilities, most recently with the appointment of Giles Delafeld who joins Alexon on 1st February 2011 in the newly created role of E-Commerce Director. Giles will further develop Alexon's online capabilities, an area which offers significant growth opportunities for the Group going forward. Total online sales for the period have increased 125%.
We are encouraged by the trends in our performance over the last three weeks which have shown marked improvement. That said, the consumer environment remains uncertain. We see no immediate change to this and re-iterate our cautious approach.
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