Business
AGM Interim Management Statem
AGM Interim Management Statem.
About this update from Mothercare Plc
[{"type":"text","content":"\n RNS Number : 2540Z Mothercare PLC 17 July 2008 \n \n\nMOTHERCARE PLC\nANNUAL GENERAL MEETING\nINTERIM MANAGEMENT STATEMENT\n\nAt the Mothercare Annual General Meeting to be held at 10.30 this morning, Ian Peacock, Chairman, will give the following update on trading for the 15 weeks ended 11 July 2008 (first quarter).\n\nGroup performance\n\n\n\nTotal group sales up 20.7% (up 0.8% on a proforma(1) basis)\n\n\nUK like-for-like sales(2) up 1.0%\n\n\nTotal UK sales up 19.5% (down 1.3% on a proforma basis due to the planned reduction of space from the implementation of our property strategy)\n\n\nDirect in Home sales up 77.7% (up 27.5% on a proforma basis)\n\n\nInternational franchisee like-for-like sales up 9.0% \n\n\nInternational franchisee retail sales up 50.4% (up 35.7% on a proforma basis) - total 526 overseas franchise stores in 49 countries\n\n\n\nIan Peacock, Chairman said:\n\n'We are pleased to report a positive first quarter performance for the Mothercare group, reflecting the strength of the Mothercare and Early Learning Centre brands in the UK and around the world.\n\n'The multi-channel UK business has shown resilience in a slow economic environment, strengthened by the successful Direct operations. The integration of the Early Learning Centre and the reshaping of the combined property portfolio are both progressing well. The International business goes from strength to strength, driven by strong franchisee like-for-like sales and 32 new store openings, including the opening of our first store in China in the quarter.'\n\n\nEnquiries to:\n\nMothercare plc\n\n\n\n\nBen Gordon, Chief Executive \n\n\n01923 206001\n\n\n\n\nNeil Harrington, Finance Director\n\n\n01923 206187\n\n\n\n\n\nBrunswick Group\n\n\n\n\nCatherine Hicks/Anna Jones\n\n\n020 7404 5959\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNote 1 - On 19 June 2007, Mothercare completed the acquisition of the Early Learning Centre. For ease of analysis, certain results are also presented on a 'proforma' basis which assumes that the Early Learning Centre had been owned for the entire first quarter this year and last ...