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.
Help test our new apparel sourcing tool.
Safeguard action by the US and EU against soaring Chinese clothing and textile exports has been fuelled by strong lobbying from domestic manufacturing trade groups. But how effective are these moves t...
Wal-Mart is famous for its everyday low prices. The world's largest company continues to dramatically transform the retail landscape by exploring new growth avenues, selling new categories of merchand...
Supermarket giant Tesco has reported an 11.5% rise in sales for the Christmas trading period, helped by strong results in non-food categories including clothing....
UK supermarket giant Tesco is suffering from the recent restrictions placed on EU imports of Chinese goods, but will continue to rely on China as an increasingly important clothing supplier....
Supermarket giant Tesco has appointed Terry Green, ex-chief executive of the collapsed Allders chain, as head of its clothing division....
The ex-boss of collapsed department store chain Allders is in discussions to take over the lead of supermarket giant Tesco's clothing division, according to a report in The Sunday Times newspaper....
Value apparel company The Peacock Group says it has benefited from consumers leaning towards the budget end of the market, posting a 6.9 per cent rise in full-year profits to £38.5 million. ...
Non-food sales in grocers, which includes clothing and footwear, have increased nearly 60 per cent over the past five years - but this is just the tip of the iceberg according to new research....
- China leads US apparel sources with falling prices
- Hard hit Turkish industry is not knocked out
- Vietnam grows share of US apparel imports in 2016
- "Power of the many" drives change at Otto Group
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- Bangladesh crackdown has cost garment sector $100m
- Adidas and Burberry recognised for sustainability
- Inditex and H&M boycott Dhaka Apparel Summit
- Macy's will "do the right thing", says Lundgren
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022