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|Bonmarche Holdings - Trading Update|
RNS Number : 6680U
Bonmarche Holdings PLC
Bonmarché Holdings plc
("Bonmarché" or the "Company" or the "Group")
13 and 39 week periods ended
Bonmarché, one of the UK's largest women's value retailers, presents its trading update for the 13 and 39 week periods ended Saturday
Sales for the 13 weeks ended
A less promotional stance was taken throughout the quarter and whilst this impacted overall sales volumes it resulted in stronger gross margin performance, with product gross margin in the quarter 2.2% higher than in last year's corresponding period.
The Company's financial position remains sound and the Board's expectation for the full year is unchanged, with our expectation being that the Group's pre-exceptional PBT is likely to fall within a range between
"Given the backdrop of the current trading environment, our third quarter store sales were satisfactory, particularly in light of the business still being in the early stages of its turnaround. The online performance was poor, and this continues to be a key area of focus.
Customers have responded well to the improved, more modern ranges in our core autumn/winter product categories of coats and knitwear. This was helped by more seasonally appropriate weather during the quarter, which strengthened demand and to some degree counterbalanced the weakness we are experiencing in the apparel market.
The product gross margin for the quarter was 2.2% higher than for the corresponding period in FY16, due to a lower level of promotional activity than in the previous year. In particular, and for the first time in several years, the winter sale began in earnest on
There remains a degree of uncertainty as to trading conditions as we enter our final quarter. Nevertheless, at the end of the third quarter, the Board's view of the likely outcome for the full year remains in line with previous expectations."
- Ends -
As stated in the Interim Results statement in November, we will add a 53rd week at the end of this financial year, which will therefore end on Saturday
For further information regarding Bonmarché, please call:
Notes to Editors:
Bonmarché is one of the UK's largest women's value retailers, focused on selling stylish, affordable, quality clothing and accessories in a wide range of sizes, via its own store portfolio and online. Established in 1982, Bonmarché has more than 30 years of experience in this growing market segment, operating across the UK.
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