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The retailer said in a trading update that sales have not been as strong as predicted in the first few months of this year after a promising end to 2009.
As a result, the firm's share price was down during stock market trading this morning (March 23rd), with Reuters reporting it had fallen by over ten per cent to 825.50p at 08:45 GMT.
Chairman and chief executive of the company Lord Harris of Peckham said: "The recovery trading in January has not been as significant as expected," adding the post-Christmas dip was caused by the adverse weather conditions.
He noted "previous experience" had suggested this would have been made up later in the year, but trading has also remained muted in February and March.
In the seven weeks to March 20th like-for-like sales were up 1.4 per cent, compared to the 2.3 per cent rise seen in the 13 weeks to January 30th.
Posted by Greg Secker
