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Bonmarche profit warning blamed on high street woes

By James Sillars, business reporter
Female fashion retailer Bonmarche has issued a profit warning, saying a weak high street and long summer have damaged demand at its stores.
The company said while its online channels remained on strong upward growth paths, high street stores had endured a tougher time than expected with trading "below expectations".
It cited lower footfall and a warm end to the summer damaging demand for autumn ranges.The value brand said it now expected underlying profit before tax during its full financial year to come in at €5.5m.Analysts had been expecting a figure of around €9m.Shares - down almost 40% so far this year - fell by a further 19% on Thursday.Bonmarche issued the downgrade despite enjoying a better-than-expected first quarter.
Bonmarche profit warning blamed on high street woes

Image:
Bonmarche places itself as a value fashion retailer. Pic: Bonmarche
It said it had taken the decision to lower profit expectations now - in its second quarter - rather than risk damaging future growth through major cost-cutting.The company said some adjustments were to be made but it is understood those would not represent a threat to any of its 325 stores or jobs.
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