Bonmarche shares slump as losses grow

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Clothing retailer Bonmarche has seen shares slump in value after the group warned it could slip to a full-year loss of up to £4m.

In early Thursday trading, Bonmarche shares were down 38.5% at 49.5p.

The decline follows “extremely poor” Black Friday sales and ongoing subdued shopper demand amid Brexit uncertainty.

Bonmarche said: “Sales have not recovered since Black Friday, despite the application of extensive discounts.”

It said sales would not recover to normal levels in the short term and it was appropriate to revise its forecast.

The firm added: “We believe that uncertainty surrounding Brexit is a significant factor affecting demand and, therefore, that it may not strengthen until the current period of heightened uncertainty ends.”

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