Interim Management Statement

 

TIDMAXN 
 
RNS Number : 1056D 
Alexon Group PLC 
26 November 2009 
 

 
 
26 November 2009 
 
 
ALEXON GROUP PLC 
 
 
Interim Management Statement 
 
 
Alexon Group plc (the 'Company') today announces its Interim Management 
Statement for the 16 weeks to 21 November 2009. 
 
Total sales for the period 
were down 14% LFL. As indicated in our half year results, a planned lower level 
of Summer Sale activity this year versus last year in August and September 
affected footfall and had a short-term adverse impact on sales, accordingly 
sales for the 8 weeks to 26 September were down 16.9% LFL. There was, however, a 
marked improvement in LFL sales during the last 8 weeks with LFL sales down 
8.7%. 
 
During the period performance across the brand portfolio was mixed 
but largely encouraging in the last 8 weeks. Eastex and Dash continued to trade 
strongly although an unseasonably warm October reduced potential coat and 
knitwear sales. Minuet and Kaliko showed the most marked upturn since the end of 
the non-comparative Summer Sale period. Ann Harvey has gradually improved full 
price performance for the year to date. We are delighted with the results from 
our newly re-fitted Ann Harvey stores in Oxford Street and Welwyn Garden City, 
which showed significant improvement in both sales and margin. Alex & Co 
continued to underperform the group, but further range development is planned to 
take effect next year following creative team consolidation. 
 
We have 
continued to progress our turnaround strategy announced in March 2009 which 
remains on track. Particularly pleasing is the growing strength of our 
multi-channel offer and in particular the continued development of online sales 
across the brand portfolio. 
 
We were pleased to announce the appointment of 
John Boyle as Group Finance Director and Company Secretary during the period. As 
part of his role, John will be working closely with Graham Seaton, Property and 
Estates Director, to review options regarding legacy leases. 
 
Looking ahead, 
the Board anticipates that the current price competitive environment will 
continue through the critical Christmas trading period and into the January 
Sales. This is likely to adversely affect margins but the Company's financial 
position remains secure. We remain confident that our strategy to return Alexon 
brands to positive sales growth and profit is progressing well and that there 
remains a great potential for future profit growth. 
 
ENDS 
 
 
Enquiries: 
 
 
+-------------------------------------------------------+----------------------+ 
| Alexon Group plc                                      | 01582 723131         | 
| Jane McNally, Chief Executive Officer                 |                      | 
| John Boyle, Group Finance Director and Company        |                      | 
| Secretary                                             |                      | 
|                                                       |                      | 
+-------------------------------------------------------+----------------------+ 
| Brunswick Group LLP                                   | 020 7404 5959        | 
| Simon Sporborg / James Olley / Zoe Bird               |                      | 
|                                                       |                      | 
+-------------------------------------------------------+----------------------+ 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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