Belfast Telegraph

Bonmarche shares drop 24%

By Staff Reporter

Shares in womenswear retailer Bonmarche have plummeted 24% after the firm issued a profit warning, saying "unseasonably hot weather" in September melted sales of its autumn ranges.

The retailer, which has 10 stores in Northern Ireland, said it expects like-for-like sales at its shops to plunge by 8% in the second quarter and first half of the year. As a result, Bonmarche said full year pre-tax profit will come in at between £5m and £7m. Shares fell to 87p.

The firm said: "Trading in September has been extremely poor, largely as a consequence of the unseasonably hot weather which has not favoured sales of our new autumn ranges.

"We approach the beginning of the second half of the year facing considerable uncertainty as to market conditions."

Belfast Telegraph