THE owner of Bolton department store Whitakers has issued a profits warning ahead of its annual general meeting.
Bournemouth-based Beale said the company was likely to fall slightly short of market expectations for the financial year ending November 3, 2006, due to disappointing trading during the autumn and winter seasons.
In a statement, it said: "Whilst current season trading is positive, it has not been sufficient to compensate for the autumn and winter shortfall, and in the current trading environment the board believes it would be imprudent to assume the trading shortfall will be recouped in the remainder of the year."
Total sales for the past eight weeks, to March 17, were higher than last year by 3.9 per cent.
The company said: "We are hopeful this more positive sales trend will continue."
After a successful pilot during Christmas 2006, the company will launch an on-line trading website in May.
In January, when it announced its preliminary results for the year to October 28, Beale said it had experienced a "difficult" year. Operating profit had been narrowly maintained at £430,000, despite sales going down by 1.6 per cent, from £108.7 million last year to £107 million.
Revenue for the year was £59.9 million, down from last year's total of £61.9 million.
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