Bonmarché is latest Christmas fashion victim

Bonmarché became the High Street’s latest fashion victim on Friday as it admitted it had a disappointing Christmas.

The over-50s fashion brand said today that same-store sales were down by 9.7% in the 13 weeks to December 30, despite online sales climbing 28.5%. Shares, which were temporarily suspended at one point due to the volume of trades, fell 24% or 30.4p at 96.1p.

Overall sales were down 6.2% in the five weeks to New Year’s Eve as it joined Debenhams and House of Fraser in having a poor Christmas. However, total sales edged up 0.9% for the 39 weeks to December 30 and it said sales of coats and dresses online had been strong.

Chief executive Helen Connolly said the company will hit the profit targets for the year, but warned the weather is the “most significant uncertainty” and it could deter shoppers from spending.

Broker Cantor Fitzgerald said: “Today’s update shows a strong online performance coupled with lower discounting and tight cost control [which] have offset weak store sales.”