Bonmarché expects profit to meet expectations despite sales drop

Bonmarché has announced that for the 52 weeks to the 31 March in store like-for-like sales

were down by 4.5% caused by a 11% drop in sales in Q4.

However the women’s retailer said that it still expects full year profits to “be in line with expectations”.

Online sales experienced a 34.5% increase year-on-year against “comparatives that became more difficult in the fourth quarter reflecting the issues more widely reported in the clothing market”.   

Bonmarché also explained profits are unlikely to suffer as a result of “significant overhead cost savings, delivered through improved operational efficiency and reduced, but more effective, marketing expenditure.”  

Helen Connolly, chief executive officer 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.

“We will publish our preliminary results for the 52 week period ended 31 March 2018 on Tuesday, 19 June 2018.”