Bonmarche Holdings PLC Trading Update (6680U)
20 January 2017 - 6:00PM
UK Regulatory
TIDMBON
RNS Number : 6680U
Bonmarche Holdings PLC
20 January 2017
20 January 2017
Bonmarché Holdings plc
("Bonmarché" or the "Company" or the "Group")
Trading Update
13 and 39 week periods ended 24 December 2016
Bonmarché, one of the UK's largest women's value retailers,
presents its trading update for the 13 and 39 week periods ended
Saturday 24 December 2016.
Sales for the 13 weeks ended 24 December 2016 increased by 3.3%
against the corresponding period in FY16, and store LFL sales
increased by 0.8%. Sales for the 39 weeks ended 24 December 2016
decreased by 1.3% and store LFL sales decreased by 5.3%. The table
below summarises the figures and for reference also includes the
figures for the five week financial reporting month of
December.
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.
Store Online LFL stores Total
only LFL% only sales + online sales
change % change % change % change
--------------------- ----------- ------------ ----------- ----------
Q3 - 13 weeks
ended 24 December
2016 0.8% (3.8%) 0.5% 3.3%
--------------------- ----------- ------------ ----------- ----------
December - 5
weeks ended 24
December 2016 (3.4%) (14.3%) (4.2%) (1.5%)
Year to 24 December
2016 - 39 week
period (5.3%) (2.1%) (5.0%) (1.3%)
As at 24 December 2016, Bonmarché traded from 327 stores and
online (2015: 310 stores and online).
Outlook
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 GBP5.0m and GBP7.0m.
Helen Connolly, Chief Executive Officer of Bonmarché, said:
"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 Boxing Day, rather than before Christmas.
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 -
Note:
As stated in the Interim Results statement in November, we will
add a 53(rd) week at the end of this financial year, which will
therefore end on Saturday 1 April 2017 rather than Saturday 25
March.
For further information regarding Bonmarché, please call:
Bonmarché Holdings plc c/o FTI +44 (0)20
Helen Connolly, Chief Executive 3727 1109
Stephen Alldridge, Finance Director
FTI Consulting - Communications
Advisor
Jonathon Brill, Georgina Goodhew, +44 (0)20 3727
Eleanor Purdon 1000
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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