UK: Alexon Group continues cautious approach
UK clothing company Alexon Group has seen a slight improvement in sales during the past few months but warns of an uncertain consumer environment going forward.
In an interim management statement for the period from 1 August to 23 November, Alexon posted a 0.4% sales increase. It reported a tough six-week trading period around the UK's Comprehensive Spending Review.
"Alexon Group is performing robustly in the continued tough trading environment and uncertain climate," the statement said.
Total online sales increased 125%, and Alexon saw its overall margins grow by 0.4 percentage points.
"The key focus of the board continues to be the acceleration of the turnaround following our successful capital raising of March 2010," the company said in a statement.
"The growth of the business through new store refits has continued. Each brand now has a new store design concept and the programme to roll these out has begun. Stores refitted to date have out-performed our expectations in both sales and margin.
"We are encouraged by the trends in our performance over the last three weeks which have shown marked improvement.
"That said, the consumer environment remains uncertain. We see no immediate change to this and re-iterate our cautious approach."
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Women's clothing retailer Alexon Group has swung to a full-year 2011 profit despite slower sales during the period....
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