Like many other retailers, clothing discounter Bonmarché (BON) reported a year of two distinct halves. Like-for-like sales were almost 8 per cent ahead in the summer half, but flatlined in the mild autumn and winter to finish the year up 4 per cent. Chief executive Beth Butterwick is confident the sales mix is more balanced this year, and expects the increase in stocks of shrugs and coatigans (a coat-cardigan hybrid) to do well.
Overall, sales were up nearly 9 per cent thanks to store openings and a very strong contribution from the website. Online and call centre trading grew by 36 and 32 per cent respectively, pushing the company's total share of the UK women's value clothing market up 50 basis points to 4.4 per cent, according to data provider Kantar.
Mrs Butterwick says "obsessing about customer feedback" has sparked the gains in market share and sales, and also prompted the trial of a menswear range in 50 of Bonmarché's 265 stores. The company is "optimistic that this is an opportunity which merits further exploration".
Analysts at Canaccord Genuity are forecasting adjusted pre-tax profit of £13.9m and EPS of 21.9p this year, up from £12.4m and 20.7p in the 12 months to March 2015.
BONMARCHE HOLDINGS (BON) | ||||
|---|---|---|---|---|
| ORD PRICE: | 286p | MARKET VALUE: | £143m | |
| TOUCH: | 282-290p | 12-MONTH HIGH: | 314p | LOW: 259p |
| DIVIDEND YIELD: | 2.4% | PE RATIO: | 14 | |
| NET ASSET VALUE: | 55p | NET CASH: | £10.2m | |
| Year to 29 Mar | Turnover (£m) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
|---|---|---|---|---|
| 2013* | 147 | 4.8 | na | nil |
| 2014 | 164 | 8.0 | 23.4 | 2.1 |
| Year to 28 Mar | Turnover (£m) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
| 2015 | 179 | 12.4 | 20.7 | 6.8 |
| % change | +9 | +55 | -12 | +224 |
Ex-div: 25 Jun Payment: 4 Aug *Prior to flotation | ||||
