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Alexon H1 profits fall 40%

Alexon recorded a like-for-like sales fall of 7.3% and an 40% slump in operating profit to £5.2 million for the 26 weeks to July 26.

Alexon’s total sales fell 5% over the period to £123.1m.

Alexon’s young fashion chain Bay Trading put in a poor performance with like-for-like sales down by 14.5%. Bay Trading recorded a loss of £1.4m against an operating profit of £1.2m last year.

The Alexon Brands division, which includes the Minuet, Kaliko, Eastex, Ann Harvey, Dash and Alex & Co brands, saw like-for-like sales fall by 4.1% for the half. However, within that, Minuet and Kaliko did post a small like-for-like growth. Operating profit for the division was £6.7m against £7.5m the previous year.

Alexon said it had appointed Charlotte Davis, who is currently head of buying for kidswear and Limited Collection at Marks & Spencer to head up its Kaliko and Minuet brands.

Alexon chief executive Jane McNally, who joined the company earlier this year, said: “This is a challenging trading period for retailers however the Alexon Brands are in an attractive demographic market sector and I am confident that the group has excellent prospects over the medium and long term.”

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