Brown & Jackson's Christmas trading is weak, but stock levels are trim
Brown & Jackson has lowered profits forecasts for the full year, following poor sales over Christmas. Like-for-like sales for the 46 weeks to January 15 increased by 2.8 per cent. However, in the six weeks to January 15, like-for-like sales were down 2.7 per cent.
As a result of the dip in trading towards the end of the period, the retailer thought it prudent to reduce internal forecasts by£750,000 for the full year. The retailer was at pains to take the sting out of the announcement by saying that it had maintained margins, and stock levels had been reduced by 25 per cent, compared with this time last year.
Brown & Jackson chief executive Angus Monro said: 'In line with a number of retailers, we noticed a deterioration in trading from mid-October last year. As a result, we acted promptly to reduce forecast sales from December and, in turn, stock commitments and costs.'
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