Peacocks feathers ruffled by Bonmarché sales

Peacock Group's earnings have performed in line with analysts' expectations, although the retailer saw like-for-like sales at its Bonmarché division drop 7.2 per cent in the 26 weeks to October 2.

Overall group sales were up 12 per cent and up 3.4 per cent like-for-like.

The group's other brands - Peacocks and Fragrance Shop - fared much better. Peacocks recorded an increase in like-for-like gross profit of 11.5 per cent up from a rise of 10.2 per cent in 26 weeks to September 27 last year. The Fragrance Shop saw a 68.5 per cent lift in total sales, although this was down from a rise of 95.6 per cent in the equivalent period.

The retailer followed suit with others in the sector by blaming its fortunes on the poor summer. 'Bonmarché has traded below expectations despite showing an improvement on the first quarter's trading,' it said. 'Given that its customer base is very sensitive to weather conditions, the unpredictable summer undoubtedly had an impact on performance. However, a thorough review of the division's operations also identified product, merchandising and supply chain weaknesses. These weaknesses have now been addressed.'