Mothercare PLC
14 October 2004
14 October 2004
MOTHERCARE PLC
PRE-CLOSE TRADING UPDATE
Mothercare plc today issued the following update on trading. The statement is
being made in respect of Mothercare's half year ended 9 October 2004.
28 Weeks to 28 Weeks to
9 October 2004 11 October 2003
UK Store Sales 1.0% 3.9%
UK Store like-for-like 2.4% 6.4%
For the 28 weeks to 9 October 2004, representing the first half of the financial
year, total UK store sales increased by 1.0% with UK store like-for-like sales
up 2.4%. For the 13 week period since our July trading update UK store
like-for-like sales were down slightly by 0.2% against a comparative figure for
the equivalent period last year of +9.9%. After this challenging late summer
period, sales are now stronger.
Mothercare's high street refit programme is progressing well with 81 high street
stores, representing over 50% of our High Street space, now refitted. These
stores continue to perform ahead of the rest of the chain and to achieve our
target return on investment.
Our new out of town store in Thurrock opened in August and is performing ahead
of expectations. This was the first new Mothercare store to be opened in over 2
years. One new high street store and one further new out of town store are
scheduled to open in November 2004.
Our International business continues to perform well. Our franchise partners
opened 12 new stores in the first half taking the total to 200 stores, trading
in 31 countries.
The initiatives we have put in place for Mothercare Direct are working well and
profitability continues to increase.
Gross margin has continued to show good levels of growth.
The full financial performance for the first half of the year (28 weeks to 9
October 2004) will be reported when Mothercare Interim results are announced on
18 November 2004.
Ben Gordon, Chief Executive, said:
'The successful transformation of Mothercare continues with sales up by almost 9
per cent over a two year period. Our Autumn/Winter ranges have been well
received and we approach the important Christmas season with confidence.'
Enquiries to:
Mothercare plc
Ben Gordon, Chief Executive 01923 206187
Steven Glew, Finance Director
Brunswick Group LLP
Catherine Hicks / Chi Lo 020 7404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
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