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CLS
CLS
CLS - Clicks Group Limited - Trading Update
Clicks Group 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 2 JANUARY 2011
RETAIL TRADING
- Clicks turnover up 16.8%
- Retail sales up 14.2%
- Inflation declines rapidly
Clicks increased sales by 16.8% off a high base in the 18 weeks to 2 January
2011 ("the period") as the brand continued to gain market share in its core
merchandise categories. Comparable store sales grew by 13.6%. Clicks achieved
strong real growth of 12.7%, with selling price inflation of only 0.9%.
Total retail sales increased by 14.2% and by 11.4% on a comparable store basis.
Musica continued to gain market share over Christmas although sales for the
period declined by 2.1% as inflation reduced to -0.4%. Gaming and lifestyle
merchandise showed good growth while CD sales slowed mainly due to limited new
releases.
The Body Shop increased unit sales although turnover declined by 5.3% as the
business experienced selling price deflation of 10.1%.
Group chief executive David Kneale said a feature of the reporting period was
the rapid decline in selling price inflation which measured only 0.6% for the
retail businesses in the period compared to 8.9% in the prior year.
"In this lower inflationary environment we are pleased with our trading results,
particularly the performance of the flagship Clicks chain which accounts for
over 88% of the group`s retail sales."
Kneale said consumers were highly value conscious over the festive season and
responded favourably to promotional offers. "Shoppers also looked for new and
differentiated products and we definitely experienced stronger sales growth in
merchandise categories which offered innovation," he commented.
UPD
UPD increased turnover by 6.5% as the market slowed as a result of lower
inflation and the faster growth in sales of lower value generic medicines.
GROUP SALES
Total sales for the group increased by 9.5% to R5.1 billion, with inflation
declining from 9.4% to 1.8%.
Turnover analysis by business unit:
Turnover Turnover Inflation Inflation
18 weeks 18 weeks Same 18 weeks 18 weeks
to to Total store to to
2 Jan 3 Jan sales sales 2 Jan 3 Jan
2011 2010 growth growth 2011 2010
(Rm) (Rm) (%) (%) (%) (%)
Clicks 3 500.1 2 995.8 16.8 13.6 0.9 9.7
Musica 413.7 422.5 (2.1) (1.6) (0.4) 3.8
The Body
Shop 44.6 47.1 (5.3) (6.4) (10.1) 2.2
Total
Retail 3 958.4 3 465.4 14.2 11.4 0.6 8.9
UPD 1 837.5 1 724.8 6.5 4.4 10.5
Intragroup
Turnover (698.4) (535.4) 30.4
Total
group 5 097.5 4 654.8 9.5 1.8 9.4
The financial information 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 2011 will be released on SENS on or about 14 April 2011.
Cape Town
18 January 2011
For further information contact
Tier 1 Investor Relations
Tel: +27 (21) 702 3102
Sponsor
Investec Bank Limited
Date: 18/01/2011 10:00:01 Produced by the JSE SENS Department.
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