Alexon in profits alert despite surge in sales
11 April 2012
An oddity from womenswear group Alexon today, which reported soaring sales and a profits warning.
The firm behind chains such as Eastex, Ann Harvey and Kaliko, saw group like-for-like sales rise by 13.3% over the festive period.
But margins were hit, meaning profits for the year to January will be £700,000 -£ 1 million, below market expectations.
House broker Investec said: "Despite a like-for-like recovery over recent weeks against last year's weak weather-affected comparatives, clearance activity has resulted in further erosion to gross margin gains."
Seymour Pearce analyst Freddie George said: "This is effectively another profit warning."
