Alexon is hopeful weak sales won't force down profits

Alexon suffered soft sales at Christmas, but is confident that profits for the year will be at least£32.4 million - an increase of 7 per cent.

Like-for-like sales in the six weeks to January 3 were down 1 per cent against the comparable period a year ago, but margins were stronger thanks to the weak dollar, the relocation of Alexon's manufacturing to Eastern Europe and a wider range at Bay Trading. Approximately 30 per cent of stock for the Alexon brands, such as Ann Harvey, Envy and Minuet, are sourced in US dollars, said a spokesman.

The group opened 108 concessions and 12 stores in the 23 weeks to January 3.