Fashion group holds true to market expectations, as it retains control of stock levels
Like-for-like sales at Alexon Group fell 2.9 per cent in the nine weeks to January 8, underlining a general slowdown in fashion sales across the whole sector. The retailer said that while Alexon brands and Dolcis did well over the period, menswear brands and Bay Trading sales were poor.
However, the retailer was at pains to point out that stock levels are under control and in-line with the company's plans. Like-for-like sales for the 23 weeks to January 8 were also down, by 1.7 per cent. However, Alexon said that operating profit for the year ending January 29, before interest and goodwill amortisation, would not be below the forecast of£31.5 million.