Instore can’t discount the slump with cheap prices

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Discount variety retailer Instore said today that trading remains tough, "due to both the underlying economic climate and an evermore competitive sector".

The firm, which trades as Instore and Poundstretcher, issued a profit warning in January.

There has been intense speculation that the group will be sold or closed down.

Doubts about the company's ability to continue trading first surfaced a month ago.

Losses for the last year more than doubled to £5.8 million.

Today's update offered no numbers on how recent sales have been, but did say that they have been "positive".

In general the company is downbeat despite signs of improvement on the High Street.

"The board does not regard this as indicative of a turnaround in the company's overall situation," it said.

The gardening and outdoor living ranges have performed well, benefiting from good weather in late spring and early summer.

Margins had suffered as the retailer strove to maintain its competitive edge. "It is expected that such pressure will continue over the coming months," Instore said.

The shares, which have lost 21% of their value over the last year, opened today at 4.5p, which values the business at £10.3 million.