20GL Hsbc Bk. 24

RNS Number:2114E
Retail Corporation PLC
25 May 2001

THE RETAIL CORPORATION PLC
(The entire Ordinary share capital of the Company is held by Sears Limited)

PRELIMINARY RESULTS
FOR THE YEAR ENDED 31ST JANUARY 2001

                                                     Notes    2000/01   1999/00 

                                                                   #m        #m

Distribution costs                                                  -       0.3

Administration expenses                                          (3.3)      0.7

TRADING (LOSS)/PROFIT            
Discontinued Operations                                  1       (3.3)      1.0

Profit on sale of business                                        1.6      27.8

(Loss)/profit on disposal of properties                          (1.6)      1.7

(LOSS)/PROFIT ON ORDINARY ACTIVITIES      
BEFORE INTEREST                                                  (3.3)     30.5

Net Interest Payable                                                -      (0.1)



(LOSS)/PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION                                                  (3.3)    (30.4)

Tax on ordinary activities                                          -      (9.4)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR                             (3.3)     21.0

Dividends on preference shares                                   (0.7)     (0.7)

ATTRIBUTABLE TO EQUITY SHAREHOLDERS                              (4.0)     20.3

Dividends on Ordinary shares                                        -      37.8

RETAINED LOSS FOR THE YEAR                                       (4.0)    (17.5)


NOTE
1.   The trading results reflect the wind down of the Footwear businesses

*************************************************************************

The preliminary statement of results for 2001/01 is an abridged version of the
Company's audited full accounts and has been agreed with the Company's auditors.
The statutory accounts will be filed with the Registrar of Companies in due
course.

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