Mothercare PLC
19 July 2007
19th July 2007
Mothercare plc
Annual General Meeting
Interim Management Statement
At the Mothercare Annual General Meeting to be held at 10:30 this morning Ian
Peacock, Chairman, will give the following update.
Group
Group sales for the 15 weeks ended 13th July 2007 were up 4.1%, as our global
business benefits from improvements in product, sourcing, stores and
distribution. Our UK business is showing steady growth and our International and
Direct businesses have both performed strongly. All figures in this statement
are comparable with the same 15 weeks in the prior year.
UK
The multi channel UK business has delivered a resilient sales performance with
like-for-like sales up 1.6%. Our UK direct business continued to perform well
with Direct in Home sales up by 17.2%.
15 Weeks to
13 July 2007
Total UK sales* +0.9%
Total UK like-for-like sales* +1.6%
UK store sales +0.1%
UK store like-for-like sales +0.6%
* Total UK sales and total UK like-for-like sales include Direct in Home.
International
International sales are growing rapidly, increasing by 20.9% in the quarter. We
have opened 12 stores during the period taking the total to 340 overseas stores
in 39 countries and remain on track to open at least 50 overseas stores in this
financial year.
On 12th July we announced our retail entry into China, through a joint venture
with Goodbaby, China's largest manufacturer of childcare products. Three trial
stores in Beijing and Shanghai are planned for spring 2008.
Early Learning Centre
On 19th June 2007 we completed our acquisition of the Early Learning Centre and
our integration of the two businesses is proceeding in line with plan. The
results of the Early Learning Centre will be included for the first time in our
interim results for the 28 weeks to 13 October 2007.
Ian Peacock, Chairman said;
'Our multi channel UK business has performed well, with like-for-like sales up
1.6% in what has been a difficult and volatile market, reflecting ongoing
improvements in product, sourcing, stores and distribution.
The International business continues to grow rapidly with sales up 20.9% and we
are delighted to have announced our plans to open our first Mothercare stores in
China.
Although it is early days, we are pleased with the progress that has been made
to date on the integration of the Mothercare and Early Learning Centre
businesses, and we are delighted to have brought together two of the strongest
parenting brands in the UK.'
Mothercare expects to make a pre-close statement for the 28 weeks to 13th
October 2007 on 18th October 2007 ahead of the interim results announcement on
22nd November 2007.
Enquiries to:
Mothercare plc
Ben Gordon, Chief Executive 01923 206001
Neil Harrington, Finance Director 01923 206187
Brunswick Group LLP
Catherine Hicks/Anna Jones 020 7404 5959
This information is provided by RNS
The company news service from the London Stock Exchange