{"id":160678,"date":"2018-12-13T10:47:39","date_gmt":"2018-12-13T10:47:39","guid":{"rendered":"https:\/\/www.theindustry.fashion\/bonmarche-shares-plunge-after-warning-of-potential-4m-losses\/"},"modified":"2021-08-12T13:54:27","modified_gmt":"2021-08-12T13:54:27","slug":"bonmarche-shares-plunge-after-warning-of-potential-4m-losses","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/bonmarche-shares-plunge-after-warning-of-potential-4m-losses\/","title":{"rendered":"Bonmarche shares plunge after warning of potential \u00a34m losses"},"content":{"rendered":"<p>Womenswear chain Bonmarche has seen its <strong>shares crash after warning it could slip to a \u00a34m annual loss<\/strong> amid \u201cunprecedented\u201d tough trading conditions.<\/p>\n<p><!--more--><\/p>\n<p>The group\u2019s chief executive Helen Connolly said<strong> conditions on the high street are worse than those seen during the recession <\/strong>sparked by the financial crisis.<\/p>\n<p>Bonmarche saw shares plunge 37%, having opened as much as 50% lower, after it estimated the group will at best break even, but could slip to an underlying pre-tax loss of \u00a34m for the full year.<\/p>\n<p>It said like-for-like sales are expected to fall around 12% in its third quarter and drop 1% in the final three months.<\/p>\n<p>Ms Connolly said: \u201cThe <strong>current trading conditions are unprecedented in our experience<\/strong> and are significantly worse even than during the recession of 2008\/09.<\/p>\n<p>\u201cI hope that in the fullness of time our cut to the forecast may prove to have been overdone, but<strong> in the current market this seems the appropriate stance to adopt.<\/strong><\/p>\n<p>\u201cI believe that Bonmarche is well prepared to weather the storm, and that we can look forward to some recovery in full-year 2020.\u201d<\/p>\n<p>Bonmarche\u2019s gloomy alert comes after it said trading during the <strong>Black Friday trading week was \u201cextremely poor\u201d,<\/strong> with ongoing subdued demand despite \u201cextensive\u201d discounting.<\/p>\n<p>It blamed Brexit for adding to the consumer woes.<\/p>\n<p>\u201cWe believe that <strong>uncertainty surrounding Brexit is a significant factor affecting demand<\/strong> and, therefore, that it may not strengthen until the current period of heightened uncertainty ends,\u201d Bonmarche said.<\/p>\n<p>Last month, the <strong>group posted a 45% drop in pre-tax profits to \u00a32.3m in the half-year<\/strong> to September 29.<\/p>\n<p>Online sales were up 28.9% but store like-for-like sales fell 4% in the half-year.<\/p>\n<p>Bonmarche, which had already warned over profits in September, had been hoping for a pick up in demand during and after Black Friday, assuming shoppers were delaying purchases until the November discounts.<\/p>\n<p>But the bounce-back did not arrive and Bonmarche said consumer behaviour is not following last year\u2019s pattern, \u201cnor the pattern of any year we have experienced previously\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,12969],"tags":[12454,11704],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bonmarche shares plunge after warning of potential \u00a34m losses - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Womenswear chain Bonmarche has seen its shares crash after warning it could slip to a \u00a34m annual loss amid \u201cunprecedented\u201d tough trading conditions. 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