UK: Sales (inc VAT)
Sales for the 8-week period
to 20 th January and the 16-week period from 1 st October, 2000 to 20th January
were:
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|
8
weeks to 20th January % on Last Year |
16
weeks to 20 th January % on Last Year |
|||
|
Actual
|
Like-for-like*
|
Actual
|
Like-for-like*
|
|
| Clothing, Footwear and Gifts |
-4.8
|
–
|
-9.3
|
–
|
| Home Furnishings |
+6.7
|
–
|
+9.5
|
–
|
| General |
-3.9
|
-5.5
|
-8.0
|
-9.6
|
| Food |
+3.1
|
+2.3
|
+2.9
|
+2.1
|
|
_____
|
_____
|
_____
|
_____
|
|
| Total |
-1.1
|
-2.3
|
-3.9
|
-5.1
|
*Like-for-like sales have
been estimated by comparing total sales with new and developed stores excluded.
Customer footfall increased
over Christmas but the inconsistent appeal of our adult clothing ranges caused
lower than expected sales, leading to excess stock and higher mark-downs to
clear. Despite the higher costs of our post-Christmas Sale, the achieved margin
percentage for general merchandise shows a significant improvement for the year
to date. We will go into the spring season with a clean stock position.
Sales of foods continue
to show a steadily improving trend and the achieved margin percentage is better
than last year’s level.
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By GlobalData25 concept stores traded
over the Christmas period, consisting of two new stores (London Colney and Southampton)
and 23 refurbished stores. The refurbished stores have, in aggregate, performed
approximately 4% ahead of comparable stores.
International: Sales
(in local currencies), including franchises
|
% on Last Year |
||
|
8
weeks to 20th January |
16
weeks to 20th January |
|
| Europe (excl. UK) |
+2.9%
|
+3.3%
|
| The Americas: |
+4.5%
|
|
| Brooks Brothers inc. Japan |
+1.6%
|
+5.5%
|
| Kings |
+4.0%
|
|
| Far East |
+3.9%
|
+1.5%
|
|
______
|
______
|
|
| Total |
+2.8%
|
+4.0%
|
Commenting on the Trading
Statement, Luc Vandevelde, Chairman and Chief Executive, said: "We did
not achieve the results I was looking for over the Christmas period. Food and
Home sales made further progress, but sales of clothing were poor. The overall
appeal of our adult clothing ranges was simply not good enough.
The cost effectiveness
of our buying is improving and benefits are being seen in an improved margin.
We also move into spring with greater flexibility in our buying practices that
will start to address the significant over-commitment problems we have faced
in past seasons.
But I am under no illusion
as to the main challenge facing the business. We must offer our customers adult
clothing ranges of consistently better design and appeal. I am absolutely committed
to making this happen."
Future trading statements
We will in future issue
trading statements in early April and early October, in addition to the January
and AGM statements. This will give a total of four in any 12-month period timed
at or close to the quarter-ends.
As a result, we will not
issue trading updates at the time of our Preliminary Results (this year, 22
nd May) and Interim Results (6 th November) covering shorter periods.
