Bonmarche which had been expecting this year’s Black Friday demand to mirror that achieved last year has reported that it sales during this week’s Black Friday week were very poor, stating: “particularly in the retail stores, suggesting that consumer behaviour is not following last year’s pattern, nor the pattern of any year we have experienced.”
The business has downgraded its pre-tax profit forecast for the year as a result.
Helen Connolly, CEO said: “The current trading conditions are unprecedented in our experience and are significantly worse even than during the recession of 2008/9. I hope that in the fullness of time, our cut to the forecast may prove to be overdone, but in the current market, this seems the appropriate stance to adopt. I believe that Bonmarche is well prepared to weather the storm and that we can look forward to some recovery in FY20. Accordingly, the Board remains confident in the strategy, and in the Company’s long-term prospects.”
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