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Bonmarche's Strong Sales Growth Continues Into First Quarter(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - UK women's clothing retailer Bonmarche Holdings PLC Thursday posted strong growth in the first quarter of its financial year, as the business continues to be driven by growth in its online business and market share gains. The clothing retailer targeting women over 50 years old said sales in the 13 weeks to June 28 grew by almost 16% on a like-for-like basis, driven by a 54% increase in online-only sales and 14% growth in like-for-like sales from its stores. It said total sales growth for the period was just short of 17%. "We have made a good start to the new financial year and the spring/summer ranges have sold well - we are pleased at the response of customers to our improved offering. Our new store/concession opening programme has also begun well and is on track," said Chief Executive Beth Butterwick in a statement. Last month, Bonmarche said sales and profits in its last financial year were driven by successful product and price enhancements, an improved store estate, and, most importantly, growth online, as online sales rose 84%. "The good weather enjoyed during the first quarter period has had a beneficial impact on sales, although at this early stage we are not altering our expectations for the current financial year," said Butterwick in the company's statement Thursday. Bonmarche was trading from 268 stores and concessions as at June 28. The company's stock was up 2.4% at 280.65 pence Thursday morning. Copyright 2014 Alliance News Limited. All Rights Reserved. |