Shares in Bonmarche were hit almost 20 per cent today after the womenswear chain issued a profit warning saying a weak high street and long summer have damaged demand at its stores.
Full-year profits are now expected to be £5.5m– down from £8m last year.
Bonmarche chief executive, Helen Connolly, added: “These are undoubtedly challenging times in the retail industry and, in common with many other businesses, Bonmarche’s store trading has been impacted by weaker consumer sentiment and footfall.
“We have continued to improve our proposition, particularly our digital capabilities, reflected in the strong online sales. We remain focused on exploiting the opportunity afforded by the increasing demand for online shopping, whilst modernising the store offer and customer experience.
“Whilst it is disappointing that FY19’s (full year 2019’s) result is expected to be lower than originally planned, despite the challenging market, the health of the business remains strong.”
The company added that its online channels remained on strong upward growth paths.