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| Alexon Group shares fall 30% on profit warning | Alexon Group shares fall 30% on profit warning |
| (about 4 hours later) | |
| Shares in Alexon Group closed down 29% after the womenswear retailer issued a profits warning amid poor sales and a tough trading outlook. | |
| The owner of six brands in the UK, including Ann Harvey and Kaliko, said like-for-like sales fell 9% in first three weeks of August. | The owner of six brands in the UK, including Ann Harvey and Kaliko, said like-for-like sales fell 9% in first three weeks of August. |
| Group performance for the year would be "well below its previous expectations," a statement said. | Group performance for the year would be "well below its previous expectations," a statement said. |
| The firm said it was in talks to sell the business. | The firm said it was in talks to sell the business. |
| "The company is in discussions with more than one party. However, no firm proposal has been received in this regard and there can be no certainty that a formal offer will be made for the company in due course," it said. | "The company is in discussions with more than one party. However, no firm proposal has been received in this regard and there can be no certainty that a formal offer will be made for the company in due course," it said. |
| The group, which also owns the Dash and Minuet Petite brands, implemented a turnaround plan last year that involved raising £20m through shareholders and shutting tens of stores. | The group, which also owns the Dash and Minuet Petite brands, implemented a turnaround plan last year that involved raising £20m through shareholders and shutting tens of stores. |
| The company said trading conditions had deteriorated since its last trading update on 7 July, and remain "very tough". | The company said trading conditions had deteriorated since its last trading update on 7 July, and remain "very tough". |
| However, it did highlight strong growth at its online business and at its refurbished stores. | However, it did highlight strong growth at its online business and at its refurbished stores. |