Trading Statement
14 Januar 2004 - 8:00AM
UK Regulatory
RNS Number:2050U
Mothercare PLC
14 January 2004
14 January 2004
MOTHERCARE PLC
TRADING STATEMENT
Mothercare is today providing a trading update for the 13 week period from 10
October 2003 to 11 January 2004.
13 Weeks to 8 Weeks to 5 weeks to
11 January 2004 11 January 2004 14 November 2003
UK Store Sales 2.3% 3.3% 0.6%
UK Store like-for-like 5.8% 6.5% 4.6%
For the 13 week period to 11 January 2004, since the end of our half year, total
UK store sales increased by 2.3% compared to the same period last year with UK
store like-for-like sales up 5.8%. In the key Christmas trading period (the
eight week period since our last trading update) UK store like-for-like sales
were up 6.5% with total UK store sales up 3.3%. This improved performance is
primarily due to the action taken to improve the design and quality of our
product ranges together with a significant increase in product availability. Our
Direct and International businesses continue to perform well.
The gross margin improvement seen in the first half has been sustained. Our
winter sale has performed well and seasonal stock levels are currently in line
with our plan.
Ben Gordon, Chief Executive said:
"We are pleased with how Mothercare has performed over the Christmas period,
with strong sales in both our clothing and home & travel ranges. This
performance has been achieved by trading at full price in the run up to
Christmas together with the improvements we have made to our products and
greater availability.
We are reporting against a weak performance last year. Going forward the
comparatives will become more demanding, however, we continue to make good
progress in delivering our turnaround plans.
If trading continues at current levels, we expect pre tax profit for the year
will be ahead of current market forecasts."
Mothercare expect to make a pre-close statement on 31 March 2004 ahead of its
preliminary results announcement for the 52 weeks to 27 March 2004.
Enquiries to:
Mothercare plc
Ben Gordon, Chief Executive 01923 20 6000
Steven Glew, Finance Director 01923 20 6187
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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