- Fashion retailer Alexon Group Plc (AXN.L) posted a 14 percent drop in like-for-like sales for 16 weeks to November 21, and said margins may be hit by the price competitive environment affecting Christmas period and January.

Bay Trading, and Alexon brand

However, the company said its Eastex and Dash brands continued to trade strongly, Minuet and Kaliko brands showed the most marked upturn since the end of the summer sale period, and its Ann Harvey brand had gradually improved full price performance for the year-to-date.

Alexon said its financial position was secure and it was confident that its strategy to return its brands to profitability was progressing well.

Alexon shares closed at 39.75 pence on Wednesday 25 November on the London Stock Exchange.

(Reporting by Kumar Alagappan in Bangalore; Editing by Kavita Chandran)