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Alexon Boosted By Surprise Figures

16 January 2009

Fashion chain Alexon has been boosted by an unexpected improvement in December trading, leading to a 25% jump in its shares, it has been announced. The Luton-based firm said there had been a "pleasing initial reaction" in two of its key brands, Bay Trading and Ann Harvey. The firm currently has more than 1,000 outlets in the UK and Europe, and its brands include Kaliko, Minuet and Eastex. Alexon said trading for the group in December was an improvement on the previous nine weeks. However, overall like-for-like sales for the 23 weeks to January 3 were down 10.5%. The group said it now expects operating profits for the year to January 31 to be "slightly higher" at the end of November. Former Peacocks buying and merchandising director Jane McNally was appointed in April to lead the troubled group, and is trying to carve out a new niche for the brands. The "pleasing reaction" that boosted trading sales is down to a new spring range in Bay Trading and Ann Harvey. Copyright © Press Association 2009

 

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