January 19, 2018 / 7:29 AM / a month ago

BRIEF-Bonmarche Maintains FY Profit Expectation

Jan 19 (Reuters) - Bonmarche Holdings Plc:

* ‍CONFIRMS THAT BOARD‘S PROFIT EXPECTATION FOR YEAR REMAINS UNCHANGED​

* ‍SALES FOR 13 WEEKS ENDED 30 DECEMBER 2017 DECREASED BY 5.5% AGAINST CORRESPONDING PERIOD IN FY17​

* ‍STORE LFL SALES FOR THE 13 WEEKS DECREASED BY 9.7% AND ONLINE SALES INCREASED BY 28.5%​

* ‍SALES FOR 39 WEEKS ENDED 30 DECEMBER 2017 INCREASED BY 0.9%; STORE LFL SALES DECREASED BY 2.8% AND ONLINE SALES INCREASED BY 35.5 PCT​

* ‍“ANTICIPATING CONTINUATION OF DIFFICULT MARKET CONDITIONS DURING OUR Q3, WE ADJUSTED OUR STOCK PURCHASING PLANS”​

* ‍“LEVEL OF DISCOUNTING WAS REDUCED COMPARED TO LAST YEAR, RESULTING IN A SLIGHT IMPROVEMENT IN GROSS MARGIN PERCENTAGE”​

* “ CLOTHING MARKET BECAME MORE CHALLENGING DURING THIS QUARTER, ESPECIALLY ON HIGH STREET; CONSEQUENTLY OUR STORE LFL WAS DISAPPOINTING”​

* ‍“DO NOT ANTICIPATE MATERIAL CHANGES IN UNDERLYING MARKET CONDITIONS” Source text for Eikon: Further company coverage:

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