Home shopping group Flying Brands has said it will take action to offset a number of adverse events that will otherwise affect the group’s full-year performance.
Poor weather in August and the increased price of grain and stems, along with a rise in postal charges, has affected trading at the flowers-to-gardening-supplies home shopping brand.
In a stock exchange announcement today, the retailer said the adverse events “have had a material impact on year-to-date trading and would affect the group's performance for the 12 months ending December 2008 if no mitigating action is taken”.
The retailer has outlined a number of actions to address the trading shortfall. For instance, it will increase prices across its Garden Birds and Flying Flowers businesses to offset rising ingredient prices.
It has also created a Christmas catalogue for customers who would not normally receive Christmas offers from Flying Brands. Chief executive Tricia Killen has reviewed its marketing strategy.
Last month, Flying Brands confirmed an offer approach from Scottish billionaire Sir Tom Hunter's investment vehicle West Coast Capital.
In August, Flying Brands announced a drop in pre-tax profits of more than 50 per cent to£1.2 million following a tough first half.