Top 10 stories of 2015: 10 Retailer’s share price drops 30% in an hour to all-time low

BONMARCHE’S share price plummeted in early trading after the Wakefield-based retailer issued a profit warning and announced its chief executive was leaving to join Karen Millen.

It fell 30% in the first hour to its lowest point since the day it floated in November 2013.

The retailer’s shares were trading at 318p just five weeks ago, and closed last night at 297.5p. However they had fallen 87.5p, to 210p, by 9am, knocking £45m off its market value.

The shares dipped a little further, to 206p, then traded flat and closed at 210.5p

Earlier the women’s clothing retailer had said trading conditions during December has been “very challenging, and have not normalised”. It reduced its profit expectations to £10.5m-£12.0m for the year to March 2016, which would come in below last year’s £12.4m profits.

It also annouced the departure of chief executive Beth Butterwick after four years, who is leaving to take over at Karen Millen.

Bonmarché’s chairman John Coleman credited Ms Butterwick with leading the business “through a transformative period” that saw it float on the Alternative Investment Market before moving on to the main market earlier this year.