UK: Peacock Cuts FY Forecast On Poor Bonmarche Sales
Value clothing company Peacock says a disappointing performance by its Bonmarche chain has forced it to slash its annual profit prediction by £4 million.
Group like-for-like sales over the Christmas period increased 3.4 per cent compared to 4.8 per cent last year, but like-for-like sales at the company's Bonmarche division dropped 8.5 per cent.
Net group sales increased 12.5 per cent in the period.
Third-quarter like-for-like sales within the core Peacocks business increased 9.2 per cent compared to 5.8 per cent in the year-before period.
Group like-for-like sales within the third quarter increased 3.4 per cent compared to 4.8 per cent in same quarter last year.
The group opened 14 new Peacock stores in the third quarter and seven new Bonmarche stores.
The Peacocks group also said that Jennifer Greenacre has been appointed as buying director of the Bonmarche chain, which caters for women aged 45 and over.
Greenacre joins the company from BMB Apparel and was previously commercial director at Tesco's Hungarian clothing, footwear and home textiles division.
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