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New Clicks Holdings - Trading Update
Release Date: 15/01/2004 11:22:01 Code(s): NCL
NEW CLICKS HOLDINGS - TRADING UPDATE
New Clicks Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/000645/06)
JSE share code: NCL
ISIN: ZAE000014585
("New Clicks")
TRADING UPDATE - NEW CLICKS SALES UP 11% IN SOUTH AFRICA
RETAIL
Multibrand retailer New Clicks Holdings today announced an
11% increase in sales from its retail trading brands in
South Africa for the four month period from 1 September to
31 December 2003.
The group enjoyed buoyant Christmas sales with turnover for
the month of December growing by 13%.
Clicks posted an 11.9% increase in overall sales, with
comparable store growth at 7.1%. Selling price inflation was
approximately 2.7%, indicating a high level of real growth
in the brand. Clicks has also passed on the benefits of the
strengthening Rand to consumers.
The lifestyle category in Clicks is showing the early signs
of a turnaround with an encouraging 13.8% growth over the
four months, and a 15.8% growth for December.
The recovery of the lifestyle merchandise range is also
evident in Discom, where overall sales grew by 15.7%, aided
by the 20% growth in lifestyle. Comparable store sales
growth was 10.2%. Selling price inflation for the brand was
approximately 3%.
Discom also showed strong real growth in December, lifting
sales by 16.9%.
The music division delivered an unexpectedly disappointing
performance, with comparable store growth at 2.2% and 3.4%
growth for all stores. While the division has until now
been fairly resilient to the general slowdown in CD sales
internationally, this is now having an impact on the local
market.
The Body Shop increased sales by 10.3%, although comparable
store growth declined by 11.1%, indicating that the initial
novelty value of the brand is now bedding down and finding
its own level. However, this was anticipated and the
overall performance of the brand remains strong.
New Clicks Australia (NCA), which trades under the
Priceline, Priceline Pharmacy, Price Attack and House
brands, increased sales by 14.8% in Australian dollars and
1% in Rand terms over the previous period. Sales for
December were up 15.6% (A$) and 6.5% (Rand). New Clicks last
week announced the sale of its Australian business to a
consortium of private equity investors. NCA will be
incorporated in the New Clicks results until 31 December
2003.
A summary of the retail trading performance of New Clicks
for the four months to end December 2003 is as follows:
Percentage
increase in sales
Comparable stores All stores
Clicks 7.1 11.9
Discom 10.2 15.7
Music Division 2.2 3.4
The Body Shop (11.1) 10.3
Total - South 6.8 11.0
Africa
Total - Australia (3.8) 1.0
(Rand)
Total - Australia 9.3 14.8
(A$)
Total 3.5 8.0
WHOLESALE DISTRIBUTION
Turnover in UPD is up 2.2% for the four months compared to
the previous year. UPD lost some business when it was
acquired by New Clicks last year but this has largely been
replaced by growth in business from Purchase Milton &
Associates (PM&A) and other independent pharmacies.
PHARMACY
Sales in PM&A, the network of 80 pharmacies which will be
acquired by New Clicks once the transfer of the licences has
been approved, were flat compared to the corresponding
period. The sales and profitability of the PM&A group are
expected to improve once it is integrated into Clicks after
licence approvals have been granted.
For further information contact:
Don Bowden / Graeme Lillie
Tier 1 Investor Relations
Tel: (27 21) 702-3102
Cape Town
15 January 2004
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