Bay Trading offsets sluggish sales at other branches
Fashion group Alexon that was hit by the downfall of Allders, in which many of its brands had concessions, will tell shareholders today that trade is satisfactory.

The retailer said that the trading climate continued to be challenging, resulting in a drop in like-for-like sales of 3.6 per cent for the 18 weeks to June 4. However, gross margins were ahead of last year.

Alexon's own stores experienced mixed performance over the period, with improved performance at Bay Trading, although comparatives were weak last year. The retailers menswear brands and Dolcis fascias both experienced sluggish trading.

Alexon chairman Patrick Cooper is expected to stand down today, putting himself up for election as a non-executive director. He is likely to be replaced by senior independent director Jim Martin.

Alexon has posted a profit before tax of£29.2 million for the year to April, up from£26.8 million the year before.