Mothercare PLC Trading Statement (9553T)
12 January 2017 - 6:00PM
UK Regulatory
TIDMMTC
RNS Number : 9553T
Mothercare PLC
12 January 2017
MOTHERCARE PLC
FY17 Q3 trading update
-- Return to sales growth in the UK
-- International sales continue to benefit from currency, underlying performance still mixed
-- Overall Group performance in line with expectations
Mothercare plc, the leading global retailer for parents and
young children, today issues the following trading update, which
covers the 13 week period to 7(th) January 2017.
UK
-- UK like-for-like sales were up 1.0% during the quarter,
benefiting from online sales growth of 5.5%. Online sales now
represent c40% of UK sales
-- Total UK sales up 0.6%
-- Margin remains within our guidance for the full year
International
-- International retail sales were down c6% in constant currency
and up c13% in actual currency, reflecting the ongoing currency
tailwinds
-- Mixed performance continues in International with China and
Russia returning to growth and the Middle East remaining
challenging
-- We opened 40 stores and closed 28, ending the quarter with
1,351 stores and 3.1M sq.ft. of retail space
Group performance for 13 weeks to 7 January 2017
13 weeks: 41 weeks:
------ ------- ------ ------
FY2016 FY2017 7 January 2017
Q3 Q4 Q1 Q2 % change year-on-year
----------------------------------------------------- ------ ------- ------ ------ ------------------------
UK Q3 Q3 YTD
Total UK sales (0.1) 0.8 (2.1) (2.5) 0.6 (1.2)
Online sales 11.8 5.6 6.4 7.3 5.5 6.4
UK like-for-like sales (1) 4.2 2.1 1.2 (2.5) 1.0 (0.1)
UK space (change in sq.ft.) (6.1) (6.4) (4.8) (1.7) (4.5) (4.5)
International
International retail sales in constant currency (1) (1.3) (9.7) 3.9 (5.6) (5.9) (2.6)
International retail sales in actual currency (1) (9.5) (10.8) 5.1 9.5 13.2 9.1
International space (change in sq.ft.) 5.8 4.6 2.3 1.8 0.0 0.0
Group
Worldwide sales (2) (5.5) (6.7) 2.7 5.1 7.5 5.1
Total group sales (3) (5.4) 1.4 (1.7) 0.5 1.8 0.2
----------------------------------------------------- ------ ------- ------ ------ ----------- -----------
Mark Newton-Jones, Chief Executive Officer of Mothercare plc,
said:
"Overall Group performance remains in line with market
expectations.
"The UK returned to growth following the challenging summer
trading period. We maintained our focus on product improvement and
full price sales while prudent stock management allowed us to enter
the end-of-season-sale after peak trading with less stock than last
year. Margin remains within our guidance for the full year."
"International continues to benefit from currency tailwinds,
however underlying performance continues to be mixed in spite of
many markets returning to growth. Both China and Russia improved,
while the Middle East continues to be challenging. We are working
closely with our International partners to modernise their
businesses while at the same time see many opportunities in both
new and existing markets around the world."
"We remain firmly focused on our strategy to build our
businesses both here in the UK and internationally and our vision
remains clear - to be the leading global retailer for parents and
young children."
Investor and Analyst enquiries to:
Mothercare plc
Mark Newton-Jones, Chief Executive Officer 01923 206455
Richard Smothers, Chief Financial Officer 01923 206455
Helen Gunter, Director of Corporate Communications 01923 206381
Media enquiries to:
MHP Communications:
John Olsen/Simon Hockridge 020 3128 8100
Notes:
1 - UK like-for-like sales are defined as sales from stores that
have been trading continuously from the same selling space for at
least a year and include online sales. International retail sales
are the estimated retail sales of overseas franchisees and joint
ventures and associates to their customers. International
like-for-like sales are the estimated franchisee retail sales from
stores that have been trading continuously from the same selling
space for at least a year.
2 - Worldwide sales are total International sales plus total UK
sales. Total International sales are International retail sales
plus International Wholesale sales.
3 - Total group sales is a statutory number and is made up of
total UK sales and receipts from our International partners, which
includes royalty payments and the cost of goods dispatched to our
franchise partners.
4 - This announcement contains certain forward-looking
statements concerning the company. Although the Board believes its
expectations are based on reasonable assumptions, the matters to
which such statements refer may be influenced by factors that could
cause actual outcomes and results to be materially different. The
forward-looking statements speak only as at the date of this
document and the company does not undertake any obligation to
announce any revisions to such statements, except as required by
law or by any appropriate regulatory authority.
5 - Overall space was down 1.5% year-on-year at the end of the
third quarter with space in the UK down 4.5% year-on-year and
International space remained flat.
6 - We will be announcing our Q4 trading update on Thursday 6
April 2017.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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