Bonmarche Holdings PLC Trading Update (5304L)
April 20 2018 - 2:00AM
UK Regulatory
TIDMBON
RNS Number : 5304L
Bonmarche Holdings PLC
20 April 2018
20 April 2018
Bonmarché Holdings plc
("Bonmarché" or the "Company" or the "Group")
Trading Update
52 week period ended 31 March 2018
Bonmarché, one of the UK's largest women's value retailers,
presents its trading update for the 52 week period ended 31 March
2018 ("FY18"). The Company is pleased to confirm that, reflecting
the good progress achieved during the financial year, the FY18
profit before tax will be in line with the Board's
expectations.
Online sales maintained the strong growth seen throughout the
financial year, against comparatives that became more difficult in
the fourth quarter. Store sales performance was disappointing,
reflecting the issues more widely reported in the clothing
market.
Whilst total sales for the year therefore declined slightly, the
gross margin percentage was resilient. The lower headline gross
margin that had been anticipated due to adverse FX movements, was
largely mitigated through tight stock control and improvements to
the loyalty scheme, which led to lower discounting. There were also
significant overhead cost savings, delivered through improved
operational efficiency and reduced, but more effective, marketing
expenditure.
The Company's financial position remains sound.
The table below summarises the store, online and combined sales
performance during FY18 and for the fourth quarter of the financial
year.
Store only Online only LFL stores Total sales
LFL% change sales % change + online % change
% change
--------------------- ------------- ---------------- ----------- ------------
Year ended 31 March
2018
52 week comparison
period (4.5%) 34.5% (1.5%) (0.5%)
--------------------- ------------- ---------------- ----------- ------------
13 weeks ended 31
March 2018
(fourth quarter of
FY18) (11.1%) 31.2% (7.4%) (6.2%)
--------------------- ------------- ---------------- ----------- ------------
As at 31 March 2018, Bonmarché traded from 325 stores and online
(2017: 327 stores and online).
Helen Connolly, Chief Executive Officer of Bonmarché, said:
"As anticipated, trading conditions in the final quarter of our
financial year remained challenging and, against this backdrop, I
am pleased that we have delivered an increase in the FY18 profit
before tax compared to last year.
"Whilst we expect the market to remain difficult, our focus will
be on continuing to improve our proposition to customers through a
number of self-help initiatives, which we expect to drive further
progress for the business during the new financial year.
"We will publish our preliminary results for the 52 week period
ended 31 March 2018 on Tuesday, 19 June 2018."
- Ends -
For further information regarding Bonmarché, please call:
Bonmarché Holdings plc c/o FTI +44 (0)20
Helen Connolly, Chief Executive 3727 1000
Stephen Alldridge, Finance Director
FTI Consulting - Communications advisor
Jonathon Brill
Georgina Goodhew
Eleanor Purdon +44 (0)20 3727 1000
Notes to Editors:
Bonmarché is one of the UK's largest women's value retailers,
focused on selling stylish clothing and accessories in a wide range
of sizes, via its own store portfolio and online. Established in
1982, Bonmarché has 35 years of experience in this 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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