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Published
Apr 8, 2016
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Bonmarché annual sales grow but retailer remains cautious

Published
Apr 8, 2016

Womenswear value-oriented retailer Bonmarché received a boost from the cold weather in January, which allowed it to reach a better-than-expected 5.2% growth in sales in the fourth quarter.

The results helped the company’s sales for the year ending 26 March 2016 achieve an increase of 5.3%, however Bonmarché said that full-year profits will be at the lower end of the guidance.


Bonmarché


“Post-Christmas, trading conditions have continued to be quite challenging, with the exception of January where we saw a higher than average demand for autumn/winter sale stock. Although helpful in clearing these ranges, the continued colder weather has been unhelpful in kick-starting real demand for spring products,” said the British brand’s CEO, Beth Butterwick.

"Overall, consumer confidence does not appear buoyant and, given that context, I believe that the provisional results represent a creditable performance. Our financial position continues to remain healthy and our final autumn/winter terminal stock position has ended better than expected, and lower than last year.

Our expectation is that trading conditions will remain challenging, and therefore our outlook for the FY17 result is cautious,” she said in a statement.

The retailer focused on selling stylish and affordable clothing in a wide range of sizes increased its portfolio of stores and concessions from 292 to 312 over the last 12 months.

As well as presenting its trading statement, Bonmarché announced the appointment of Mark McClennon as an independent Non-executive director with immediate effect. The current Global VP for IT at Unilever will serve on the Audit, Remuneration and Nomination Committees.

John Coleman, Chairman commented: “His experience gained over more than twenty years within Unilever will bring to the Board skills and knowledge which will be especially valuable given the developing business change agenda within Bonmarché’s strategy”.

Further, Sergei Spiridonov has been named a non–independent non-executive director, joining Bonmarché as the nominee of BM Holdings Sàrl, the majority shareholder. 

Last week the UK company also announced the appointment of Helen Connolly as new CEO of the business. She will take up her position later in the year.

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