Bonmarché announces departure of CEO, revises profit expectations

By

Cajsa Lykke Carlson

Published
Dec 16, 2015

Beth Butterwick, CEO of British women's value retailer Bonmarché, has announced that she is stepping down from the role to join Karen Millen as CEO. She will stay until Bonmarché has found a successor.

Butterwick was at Bonmarché for four years. John Coleman, Chairman, said: "On behalf of the Board, and all our colleagues at Bonmarché, we thank Beth for her exceptional contribution over the past four years. She has led the business through a transformative period, through the acquisition by an affiliate of Sun Capital Partners in 2012, the IPO on AIM in 2013, and most recently the Company's transition to the London Stock Exchange's Main Market as one of the UK's largest women's value retailers."

Bonmarché also published a trading update, in which it said that trading conditions during December, particularly since November's Black Friday, have been "very challenging, and have not normalised." The company has therefore revised its profit expectations for the current financial year.

Bonmarché stated: "Given the ongoing volatility of trading conditions, the Board considers it likely that the PBT will be within the range of £10.5m to £12.0m."

In November, the company had stated that its FY expectations would remain unchanged, provided trading conditions normalised.