Sales were flat for Alexon Group in its 1st half, due in part to tough business in meanswear retailing and for the Dolcis footwear chain, which posted an operating loss of £882,000 ,(€1.3m-$1.6m) as compared to a £785,000 (€1.2m-$1.4m) profit during the same period last year, on 6.0 percent lower sales of £31.4 million (€46.2m-$55.3m). Its same-store sales were down 9 percent.
Alexon says Dolcis experienced reduced demand for shoes as a fashion item. Another negative factor for the chain is the increased competition from garment retailers who are strengthening their shoe ranges. The footwear chain is responding to this by beefing up its buying team and sharpening the appeal and fashion content of its ranges. These measures are expected to have a positive impact on next Spring’s results.
Only Bay Trading, the company’s women’s apparel retail chain, had positive results. Alexon’s overall sales were flat at £197.7 million (€290.7m-$348.3m), and they slid by 1 percent on a comparable store basis. The group’s operating profit fell by 39.7 percent to £7.8 million (€11.5m-$13.7m). Net income declined to £5,414,000 (€8.0m-$9.5m) from £8,155,000 (€12.0m-$14.4m) .