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16 Jul 2009 07:00
MOTHERCARE PLC
ANNUAL GENERAL MEETING
INTERIM MANAGEMENT STATEMENT
At the Mothercare Annual General Meeting to be held at 10.30 this morning, Ian Peacock, Chairman, will give the following update on trading for the 15 weeks ended 10 July 2009 (first quarter).
Group performance : First quarter
Total group sales up 9.4%
Direct in Home sales up 17.4%
International retail sales(1) up 32.7%
Ian Peacock, Chairman said:
"This has been another strong sales performance with both the Mothercare and Early Learning Centre brands operating well across all channels. Our International franchise business continues to grow rapidly with retail sales up 32.7% boosted by the weakness of Sterling and by 30 new overseas store openings in the first quarter. With new stores opened in Eastern Europe and the Middle East in particular, we now have 639 overseas stores trading in 50 countries.
"The multi-channel UK business again grew like-for-like sales, helped by the performance of Direct, the Early Learning Centre inserts in Mothercare stores and strong sales of summer product. The summer sale is progressing in line with plan and we enter the new season with a clean stock position. Whilst this has been a positive start to the year, we continue to manage the business tightly in an uncertain global consumer environment."
Enquiries to:
Mothercare plc
Ben Gordon, Chief Executive 01923 206001
Neil Harrington, Finance Director 01923 206187
Brunswick Group
Catherine Hicks/Catriona McDermott 020 7404 5959
Note 1 - "Like-for-like" sales are defined as sales for stores that have been trading continuously from the same selling space for at least a year and include Direct in Home and Direct in Store. Sales from Early Learning Centre inserts in Mothercare stores are included where they are trading in existing Mothercare space. International retail sales are the estimated retail sales of our overseas franchise partners and joint ventures.
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