Fashion group Alexon has reported a 14% slump in like-for-like sales for the 16 weeks to November 21 after its planned lower level of summer Sale activity affected footfall and sales.
The retailer, which owns fascias such as Ann Harvey and Dash, said like-for-like sales for the eight weeks to September 26 were down 16.9%, but there was a marked improvement in like-for-likes in the last eight weeks with sales down 8.7%.
Alexon said Eastex and Dash continued to trade strongly despite an unseasonably warm October, while Minuet and Kaliko showed the most marked upturn since the end of the summer Sale period.
It said it is “delighted with the results from our newly re-fitted Ann Harvey stores in Oxford Street and Welwyn Garden City” which “showed significant improvement in both sales and margin”.
Alex & Co continued to underperform, the group said, but further range development is planned for next year.
Alexon said its turnaround strategy, announced in March 2009, remains on track and it said its multichannel offer is growing.
During the period, John Boyle was appointed group finance director. He will work closely with property and estates director Graham Seaton to review options regarding legacy leases.
The retailer expects the current price competitive environment will continue through Christmas and into January. It said this is likely to adversely affect margins but the company’s financial position remains secure. Alexon remains positive there remains potential for future profit growth.
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