OAS Oasis Stores

RNS Number:2576X
Oasis Stores PLC
16 January 2001

16 January 2001 - for 0800 release



                               Oasis Stores Plc

                         Trading and Strategy Update

   Oasis Stores Plc today announces its trading performance for the 23-week
        period to 6 January 2001 together with an update on strategy.

Trading Performance

Oasis sales for the period were up by 4% and like-for-like sales decreased by
2%.

The Christmas trading performance, encompassing the 6 weeks to 6 January, was
somewhat better, with total sales up 6% and like-for-like sales up by 1% on
last year.

Gross margins have continued the improvement disclosed at the interims, and
rose by one percentage point in the period.

Underlying pre-tax profits for the year ended January 2001 are expected to be
slightly below current market expectations.

Supply Chain

This year the Board set out to assess the effectiveness of the company's
supply chain.

A review of the merchandising processes earlier in the year identified that
the company was carrying forward too much prior season stock; this was
addressed in our Spring sale, which depressed the gross margin at the interim.

In the second half, the Board has undertaken a thorough review of the
processes supporting the design and manufacture of garments, which has
revealed an excessive stock of old fabric and trims. Whilst the full financial
impact of this problem is still being assessed, we now anticipate making a
one-off provision at the year-end that is not expected to be in excess of 
#2.0m.

Strategy

In view of the continuing unfavourable market perception of smaller quoted
retailers, the Board is currently exploring a number of options for maximising
shareholder value.



Enquiries:

Oasis Stores Plc

Derek Lovelock, Chief Executive

020 7452 1025



Financial Dynamics

Tom Baldock

020 7831 3113

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