Bonmarché sees sales plummet due to ‘unseasonably hot weather’

Bonmarché, the Wakefield-headquartered retailer, has reported a significant decrease sales due to “poor weather” during September.

The fashion retailer has issued a profit warning after experiencing “extremely poor” sales of its new autumn range throughout this month because of the “unseasonably hot weather.”

Although the hot weather conditions have resulted in strong sales of its leftover summer stock, Bonmarché estimates that like-for-like sale results for Q2 will be down 8%, and like-for-like sales for the first half-year will also decrease by 8%.

The retailer said that is it now “appropriate to lower the profit expectation for the second half of the year.”

Combined with low sale figures in September and a negative forecast for the second half of the year, Bonmarché also believes full year pre-tax profit will fall within a range between £5m and £7m.

Helen Connolly, who only became chief executive of Bonmarché several months ago, said: “I was attracted to Bonmarché by its potential to grow as a business serving the 50 plus women’s value clothing market.

“My early impressions of the business have underpinned this, and I am currently formulating my plans for the future. The direction of travel is right, but the effectiveness of execution needs to improve.

“My plans are therefore likely to focus on improving the clarity of the customer proposition and operational improvements in all channels rather than a major strategic repositioning.

“I have been encouraged by the enthusiasm and commitment of the Bonmarché colleagues, and am confident that despite the difficult conditions we are currently experiencing, the business will resume growth during FY18.

“I will provide a more comprehensive update in relation to my strategy in due course.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →