Bonmarche (LON:BON) has become the latest retailer to blame weak results on the High Street crisis, reporting an 11 percent drop in sales for the three months to March.
Like-for-like store sales dropped 11.1 per cent, bringing its full year average to a decline of 4.5 per cent.
Online sales saw a significant boost, however, rising 34.5 per cent over the year, but the weight of poor high street sales meant overall comparable sales were down 1.5 per cent.
“As anticipated, trading conditions in the final quarter of our financial year remained challenging and, against this backdrop, I am pleased that we have delivered an increase in the FY18 profit before tax compared to last year,” said Helen Connolly, Chief Executive Officer of Bonmarche.
However, the group confirmed that its full year expectations remained in line with expectations.
Shares in Bonmarche are currently trading down 6.08 percent at 85.00 (0828GMT).
