AXN Alexon Grp.

 

TIDMAXN 
 
RNS Number : 5108F 
Alexon Group PLC 
14 January 2010 
 
14 January 2009 
 
 
Alexon Group plc 
 
 
January Trading Statement 
 
 
Alexon Group plc, the womenswear clothing retailer, today announces its regular 
trading update covering the period ended 9 January 2010. 
 
 
Since our last trading update, on 21 November 2009, the first three weeks of the 
period continued on an encouraging upward trend, with like-for- like sales of 
minus 6.2% during that period. Since then, like-for-like sales, consistent with 
Alexon's historic experience, have been significantly impacted by the extreme 
weather conditions, resulting in overall like-for-like sales for the twenty 
three weeks ended 9 January 2010 showing a decline of 14.3% on the prior year. 
 
 
We have continued our policy of minimizing excess stock ahead of the new season 
and this, along with increased promotional activity in the host department 
stores and the recent trading conditions will result in gross margin for the 
half being 0.8% points lower than last year. Accordingly, we now expect the 
results for the year ended 30 January 2010 to be slightly below market 
expectations. Net borrowings remain satisfactorily within the group's current 
facilities. 
 
 
Looking forward, the initial reaction to the early phases of spring/summer 
merchandise has been positive. Full price strike rates across all the brands 
continue to improve season on season. We have also been encouraged by the very 
strong performance of our growing e-commerce business over the period through 
both our own online platforms and through partner websites. We believe the 
2010 economic outlook will remain challenging but we are actively pursuing a 
number of initiatives, including addressing our onerous property leases, in 
order to accelerate the group's turnaround plan. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For further information, please contact: 
 
 
Alexon Group Plc 01582 723131 
Jane McNally, Chief Executive 
John Boyle, Finance Director 
 
 
 
Brunswick020 7404 5959 
Simon Sporborg/James Olley/Zoe Bird 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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