In this section:
Trading Statement September 2008
11 September 2008
INTERIM MANAGEMENT STATEMENT
Like for like gross sales (including VAT and concession sales) for the 43 weeks to 30 August 2008 were 6.0% lower than for the previous year. This shows an improving trend from the first 26 weeks of the financial year, when like for like sales declined by 6.4%. Our store in Ealing was closed at the end of the last trading year. Including that stores comparable performance, gross sales (including VAT and concession sales) for the 43 weeks were 14.8% below those in the previous year.
In recent weeks the Group has taken a number of trading initiatives, including a stronger promotional stance, which the Board believes will lay the foundations for a recovery in the business. There is also a continuing close focus on tight management of the Groups expenses and asset base, which continues to show benefits. We shall report more fully on the Groups strategy and the effect of these initiatives when we announce our results for the 52 weeks ending 2 November 2008.
A wide, innovative assortment which is constantly maintained so that it creates a difference with our competitors. The assortment provided for each store is determined during the completion of Store Business Plans which are prepared every two years. These form the basis of range planning and price architecture. They are not intended as a financial model but historical returns per sq. ft. will, of course, be considered when determining the category profile for each store.
Beale PLC
Tony Brown, Chief Executive
Ken Owst, Finance Director
Tel: 01202 552022
Tavistock Communications
Lulu Bridges
Polly Hutchinson
Tel: 020 7920 3150
Blue Oar Securities PLC
Nick Lovering
Tel: 020 7448 4478
