Elle fashion label owner expects to report loss
Actif, the retail group that operates the Elle fashion label in the UK and Germany, has issued a profit warning today.

The group, which also runs a wholesale business, has seen weakness in both retail and wholesale.

Actif blamed weak full price retail sales on the high street and the level of wholesale orders for the loss. The group announced: 'As a result, the board expects to report a loss for the business for the current financial year in excess of the loss reported for last year.'

Seymour Pierce analyst Rhys Williams added: 'The weak demand in both the retail and wholesale areas of the business have continued since the trading statement issued in October. We believe that like-for-like retail sales have worsened since then, when a figure of -14 per cent was reported.'