Bonmarche experiences rocky Christmas

The Wakefield-based fashion chain that caters for the over 50s said like-for-like sales were down 0.8 per cent in the 13 weeks to December 26.

The group added that sales for the quarter increased by 3.4 per cent and store like-for-like sales declined by 1.3 per cent.

Beth Butterwick, chief executive officer of Bonmarché, said: “As noted in our announcement on 16 December 2015, trading conditions during November and December were very challenging and as a result, the board revised its profit expectations for the current financial year.

“In the short period since Christmas, demand has trended towards more normal levels. The board’s view of the expected outcome for the year is unchanged and it therefore reiterates its expectation that the PBT will be within the range of £10.5m to £12.0m.”

Share prices plunged at Bonmarche in December when it was announced that Ms Butterwick would be leaving the company to join fashion house Karen Millen.

Ms Butterwick will step down after four years with Wakefield-based Bonmarché. She will remain with the business until her successor is appointed to ensure a smooth transition.

She was appointed to Bonmarche in 2011 and led the turnaround of the company’s new business strategy which allowed the acquisition of the business by Sun Europe Partners in 2012.

The company, which floated on the stock exchange in 2013, has 310 stores as well as an online offering.