30th Jul 2015 08:22
LONDON (Alliance News) - Bonmarche Holdings PLC Thursday reported a rise in total sales in the first quarter of its financial year, although it was significantly lower than the level of growth it achieved in the same period the year before and its like-for-like sales declined.
The women's clothing retailer said that total sales in the 13 weeks to June 27 grew 3.8%, as like-for-likes fell 1.7% and online sales rose 11.4%. In comparison, total sales in the same period the prior year grew 16.9%, as like-for-likes increased 13.5% and online sales rose 53.5%.
However, the results were an improvement on the last quarter which only saw total sales growth of 0.9%, as like-for-likes declined 4.7% but online sales increased 14.5%.
"We have made a solid start to the new financial year. Our like-for-like run rate shows an improvement compared to the previous quarter, despite inconsistent spring and early summer weather. We continue to make progress with the execution of our strategic initiatives. We are listening to our customers' feedback, based on which, our plans will evolve. At this early stage the board remains confident of achieving its expectations for the year," Chief Executive Beth Butterwick said in a statement.
Shares in Bonmarche were trading down 0.6% at 293.60 pence Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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