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2 Apr 2009 07:00
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MOTHERCARE PLC
FOURTHΒ QUARTERΒ TRADING UPDATE
Mothercare plc, the leading global retailer of parenting and children's products,Β today issuedΒ anΒ update on tradingΒ for theΒ fourth quarterΒ (11 weeks) and the full year (52 weeks) ended 28 March 2009.
GroupΒ salesΒ performanceΒ :Β fourthΒ quarter
Total group sales up 5.6%
UKΒ like-for-likeΒ sales upΒ 3.7%;Β totalΒ UKΒ salesΒ upΒ 1.3%
Direct in Home sales up 26.7%
International retail sales up 40.0%
Group salesΒ performanceΒ :Β full year
Total group sales up 6.9% (upΒ 2.8% on a proformaΒ basis)
UKΒ like-for-like sales up 1.4%; totalΒ UKΒ sales upΒ 2.4% (downΒ 1.5% on a proforma basis due to planned reduction in space)
Direct in Home sales upΒ 30.6% (upΒ 22.4% on a proforma basis)
International retail sales up 44.5%Β (upΒ 40.9% on a proforma basis)
International like-for-like sales upΒ 6.0%Β forΒ theΒ full year and upΒ 4.0%Β in the second half
Gross margin performance
UKΒ gross marginΒ isΒ in line withΒ ourΒ expectations.Β For 2009/10, we expect gross margins to come underΒ furtherΒ pressure due to the weakness ofΒ Sterling;Β however,Β we expect this to be partly offset by currency gains in International.
Ben Gordon, Chief Executive said:
"This is anotherΒ strongΒ performance from the Mothercare group.Β International goes fromΒ strength to strength,Β withΒ retail sales up 40%. We now have 1,014Β storesΒ inΒ 51Β countries worldwide.
"TheΒ UKΒ business has now delivered 15 consecutive quarters of like-for-like sales growth.Β UKΒ sales have been boosted byΒ robustΒ performances from the Direct business and the Early Learning Centre insertsΒ now in 84Β Mothercare stores, and both brands haveΒ gained market share in the quarter. We continue to manage the business tightlyΒ to mitigate the effect ofΒ currency movements. TheΒ groupΒ remainsΒ debt free."
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 -Β "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. Sales from Early Learning Centre inserts in Mothercare stores are included where they are trading in existing Mothercare space.Β Like-for-like sales are presented on a proforma basis (note 2).Β InternationalΒ retailΒ sales are the estimated retail sales ofΒ ourΒ overseasΒ franchise partnersΒ and joint ventures.Β International like-for-like sales are calculated at constant rates of exchange.
Note 2 -Β On 19 June 2007, MothercareΒ acquiredΒ the Early Learning Centre. For ease of analysis, certain results are also presented on a "proforma" basis which assumes that the Early Learning Centre had been owned forΒ all ofΒ this year and last year.
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