Monsoon admits mistakes
Tuesday 26 January 1999
The news pushed Monsoon shares down 9p to 46.5p, their lowest level since the company's flotation in February last year. Priced at 198p on flotation the shares have now lost three-quarters of their value in 12 months. The company admitted it had made mistakes with its merchandise range and the presentation of its stores.
The company said it had beefed up its design team and would improve its merchandise ranges. It said customer research had also showed that it stores contained too much stock and were therefore "difficult to shop" for its target audience of busy working women. It will therefore be simplifying product ranges. Monsoon is also launching a shoes range in 20 stores and a homewares range in 33 outlets focusing on bed linen and bathroom products.
In the six months to November profits fell 20 per cent to pounds 11.8m on sales up 8 per cent to pounds 66.1m. Same stores sales in the half year were 6 per cent down on the year. Since November however the performance has worsened with like for like sales down by 9 per cent.
- 1 Malaysian cyclist could face disciplinary action after 'Save Gaza' gloves protest
- 2 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 3 Fifty Shades of Grey trailer provokes moral outrage from US parenting groups
- 4 McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
- 5 Students offered grants if they tweet pro-Israeli propaganda
Israel-Gaza conflict: Israeli targeting policy under scrutiny after shellfire hits a mother and child, a school full of refugees and a doctor’s home
MH17 crash: Investigators discover more human remains and 'huge section of plane'
Students offered grants if they tweet pro-Israeli propaganda
McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
Satellite full of sexually experimental geckos adrift in space, Russia loses control of mission
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
John Barrowman praised for Commonwealth Games opening ceremony gay kiss
iJobs Money & Business
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£280 - £300 per day + competitive: Orgtel: Test Analyst, Edinburgh, Credit Ris...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...