11th Sep 2008 07:00
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 store's 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 Group's expenses and asset base, which continues to show benefits. We shall report more fully on the Group's strategy and the effect of these initiatives when we announce our results for the 52 weeks ending 2 November 2008.
For further information:
|
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 Jerry Keen Tel: 020 7448 4492 |
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