Women’s wear retailer Bonmarche has warned of steeper loses as slow trading has hit the retailer and warned sales will be under pressure throughout March.
Bonmarche said they have seen “significantly weaker” trading since the start of March, the retailer resorted to heavily discounting to move stock during January and February.
The retailer now expects underlying pre-tax losses between £5m to £6m for the year to the end of March.
Bonmarche said, “We believe that the recent downturn in trading is a consequence of the demand for transitional ranges, between winter and spring, having been satisfied during January and February.
“Although sales of spring season stock benefited from the spell of warm weather in late February, this is not yet a large enough part of the sales mix to compensate for the lower demand for transitional stock.”
But it said it remains on track with expectations for 2019-20 thanks to the “positive early reaction to the spring product.”
The company gave a profit warning in December that sent shares crashing.