A sales slump in the Dolcis shoe retail chain and in its menswear division caused Alexon Group’s profits to drop by 87 percent in its 1st half, ended July 29. Pre-tax profit was £1.0 million (€1.5m-$1.8m), down from £7.9 million in the year-ago period. On an organic basis, the group’s total retail sales fell by 6.9 percent, and the net turnover decreased by 8.5 percent to £180.8 million (€262.8m-$333.7m). Margins fell across all divisions because of increased promotional activity and the need to clear terminal stocks. In the first 11 weeks of the 2nd half, same-store sales continued to decline by 8 percent, with the company blaming an unseasonably warm September and soft consumer demand.