Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Alexon issues profit warning

Alexon has issued a profit warning after like-for-like sales crashed 7% in the 18 weeks to December 1.

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.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.