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CLS
CLS
CLS - Clicks Group Limited - Trading Update
Clicks Group Limited
(Formerly New Clicks Holdings Limited)
(Incorporated in the Republic of South Africa)
Registration number 1996/000645/06
JSE share code: CLS
ISIN: ZAE000134854
("Clicks Group" or "the group")
TRADING UPDATE FOR 18 WEEKS TO 3 JANUARY 2010
HIGHLIGHTS
- Clicks turnover up 15.7%
- Retail sales up 13.4%
RETAIL TRADING
Clicks Group increased retail sales by 13.4% for the 18 week period to 3 January
2010.
This performance is due to the continued strong trading results from the Clicks
chain which grew turnover by 15.7%, driven by the growth in the health and
beauty merchandise categories. This again underlines the defensive qualities of
the business and the benefits of a value offer in a tight consumer economy.
Commenting on festive season trading, group chief executive David Kneale said:
"Retailers again experienced tough Christmas trading conditions, with consumers
being cautious about spending their money. Trading patterns over this period
were also impacted by the shorter school holidays, with consumers tending to
defer their purchases until the last minute.
"Against this background we are pleased with the trading results, which are in
line with our expectations."
Musica performed in line with the trend of the previous financial year. CD sales
were stable and Musica continued to gain market share.
The Body Shop performed well considering the current trading environment.
DISTRIBUTION
UPD`s wholesale sales increased by 15.5% for the period. The reported increase
of 8.8% is lower as the turnover for the comparative period included sales to
third party distribution clients. These distribution contracts have been re-
negotiated so that UPD retains the income but no longer carries the debtors`
book, providing a cash flow benefit to the business. The results for Clicks
Direct Medicines have been consolidated into UPD.
GROUP SALES
Total sales for the group increased by 10.0% to R4.7 billion.
The turnover analysis by business unit is as follows:
18 weeks 18 weeks Total Same store
to to sales sales In-
3 January 4 January growth growth flation
2010 (Rm) 2009 (Rm) (%) (%) (%)
Clicks 2 914.4 2 519.7 15.7 12.9 9.7
Musica 424.4 421.7 0.6 (0.9) 3.8
The Body Shop 47.1 44.1 6.8 0.8 2.2
Total retail 3 385.9 2 985.5 13.4 10.9 8.9
UPD 1 778.9 1 635.0 8.8 10.5
Intragroup
Turnover (472.9) (355.2) 33.1
Total group 4 691.9 4 265.3 10.0 9.4
OUTLOOK
While retail trading conditions are expected to remain unchanged in the short
term, management believes selling price inflation has peaked and will fall
steadily over the remainder of the group`s financial year. Inventory has been
tightly managed and stock levels are well under control. The group remains
confident of delivering on its strategic objectives and financial targets
outlined to shareholders in the 2009 annual report.
The information contained in this trading update has not been reviewed or
reported on by the group`s auditors. Clicks Group`s interim results for the six
months to 28 February 2010 will be released on SENS on or about 22 April 2010.
Cape Town
18 January 2010
For further information contact
Tier 1 Investor Relations
Tel: +27 (21) 702 3102
Sponsor
Investec Bank Limited
Date: 18/01/2010 10:00:02 Produced by the JSE SENS Department.
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