Pre Close Trading Update
08 Octubre 2003 - 2:01AM
UK Regulatory
RNS Number:6435Q
Mothercare PLC
08 October 2003
8 October 2003
Mothercare plc
Pre Close Trading Update
Mothercare plc today issued the following update on trading. The statement is
being made in advance of Mothercare's half-year end of 11 October 2003 and
therefore reports on the performance for the 27 weeks to 4 October 2003.
Total UK store sales for the 27 weeks to 4 October 2003 were 4.0% up on the same
period last year, with UK like-for-like store sales up 6.6%.
Gross margin showed an improvement on last year of +5.8 percentage points. This
is better than anticipated in our last trading statement in July primarily due
to more effective management of mark-down and promotional activity during our
summer sale.
The initial response to the Autumn/Winter range by our customers has been
positive and the International and Direct businesses continue to perform well.
As a result of this performance, Mothercare expects that the outcome for the
first half will be substantially ahead of market expectations.
Ben Gordon, Chief Executive said:
"We are encouraged by the trading performance over the last six months. Whilst
it has been achieved against a particularly weak and volatile performance in the
first half of last year, it demonstrates that the turnaround programme we are
implementing is having a positive impact. Much remains to be done to achieve a
sustained recovery but we remain firmly on track with our plans."
The full financial performance for the half-year (28 weeks to 11 October) will
be reported when Mothercare Interim results are announced on 20 November 2003.
Enquiries to:
Mothercare plc
Ben Gordon, Chief Executive 01923 206001
Steven Glew, Financial Director 01923 206140
Brunswick Group Limited
Susan Gilchrist/Philippa Power 020 7404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
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