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Ideal Shopping sees sales plummet

Ideal Shopping Direct said it anticipated making a 'small trading loss' for the year after sales in the seven weeks to October 26 fell back 10%.

Ideal Shopping Direct said that current market conditions had had a negative impact on sales, and that the 10% sales fall was in contrast to a an increase in total net revenue for the first 10 weeks of the second half.

As a result, cumulative net revenues for the first four months of the second half are running 3% behind last year.

Ideal Shopping Direct warned that it was anticipating a lower than expected gross margin from the sales mix, which in addition to the sales fall, would impact profitability.

Ideal Shopping Direct appointed Mike Hancox, the former chief executive of Otto UK, as chief executive earlier this year.

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