Bonmarché profits on the rise following online sales surge

Revnues at fashion retailer Bonmarché grew by five per cent in the first half of the year driven by a rise in online sales.

Bonmarche customers have welcomed the retailer's new ranges

The Wakefield chain posted total revenues of £97.8m compared with £93.1m the previous half, while sales grew 4.3 per cent.

Store-only sales were up 1.6 per cent while online sales were up by 38.6 per cent.

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Product gross margin remained level with the same period last year and there will be an interim dividend of 2.5 pence per share.

Bonmarché also grew market share during the period and launced a higher quality, more authentic, denim range.

It said its strong online growth was driven by multiple improvements to customer experience and supported by stronger product ranges.

Helen Connolly, Chief Executive of Bonmarché, said:

“I am satisfied with the progress made during the first half of the financial year.

“I have been encouraged by the way the teams have worked cross functionally to deliver an improved product offer and a better experience for our customers, whether in store or online.

“We are only at the beginning of the journey in some areas of our strategy and there is a strong plan to support future growth.

“I do not expect the clothing market to become any less challenging in the near future, and therefore remain focussed on continuing to grow by profitably gaining market share.”