Uplift disappointing
AIM-listed garden centre retailer Blooms of Bressingham has celebrated a Christmas sales uplift, but admitted disappointment at its scale.
Blooms posted a 7 per cent like-for-like advance for the nine weeks to December 28, when total sales were ahead by 19.4 per cent.
Although the retailer described the performance as 'encouraging', it was still below internal expectations 'given significant improvements' made to the Christmas range. Seasonal stock has been tightly controlled and only a 'low' proportion was carried forward.
Teather & Greenwood analyst Rhys Williams cut his forecast from£800,000 to£750,000, but said Blooms 'continues to redevelop its portfolio, building a small but well-formed estate'.
Seymour Pierce analyst Richard Ratner labelled the update 'slightly disappointing', but believed 'the longer-term potential of the group is considerable'.
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