The multi-fascia fashion company said that trade has worsened since its interim results when it told the market like-for-likes were running 5% down for the seven weeks ended September 8.
Alexon said that due to tough trading conditions it was unlikely to hit market consensus on full year pre-tax profits and said pre-tax profit was likely to be in the range of £11.5 million to £12.5m.
Alexon is the third fashion retailer to warn on profits this autumn. French Connection issued a profit warning last month and yesterday, Moss Bros said it was also unlikely to meet market expectations.
Alexon added that gross margin was 1.7% higher than last year during the 18 weeks to December 1, and said stock levels were below that of last year.
The company added in a statement: "While next year is likely to prove equally challenging we are confident that the measures taken in the last 12 months to strengthen our portfolio of brands will stand us in good stead for the future."
Click here to read the full statement from Alexon.