*Q1 GROUP REVENUES OF €1.9 BILLION WITH CONSTANT CURRENCY REVENUE GROWTH OF 3% VERSUS LAST YEAR
*GROUP LIKE-FOR-LIKE $(LFL)$ REVENUES DECLINED 1.1% IN Q1
*GROUP GROSS MARGIN IMPROVED BY OVER 140 BASIS POINTS Y/Y IN Q1, WITH CONTINUED STRONG PROGRESS IN PEPCO, OFFSETTING SIGNIFICANTLY LOWER MARGINS IN POUNDLAND
*CELEBRATED ITS 5,000TH STORE MILESTONE WITH NET NEW OPENINGS OF 63 STORES ACROSS GROUP IN Q1, LARGELY REPRESENTING OPENINGS OF PEPCO IN CORE CEE REGION
*GROUP EXPECTS TO OPEN AROUND 300 NET NEW STORES ACROSS FY25
*WE CONTINUE TO SEE DIVERGENCE OF PERFORMANCE ACROSS OUR BRANDS
*WE ARE PLEASED WITH MOMENTUM WE ARE SEEING IN PEPCO AND DEALZ BUSINESSES, WITH RETURN TO LFL SALES GROWTH IN Q1
*WE REMAIN CONFIDENT THAT PEPCO WILL DELIVER PROFITABLE GROWTH DURING THE YEAR
*WE EXPECT THAT THE TOUGHEST COMPARATIVE QUARTER FOR POUNDLAND IS NOW BEHIND US
*WE EXPECT NEGATIVE SALES PERFORMANCE FOR POUNDLAND TO MODERATE AS WE MOVE THROUGH THE YEAR
*POUNDLAND WILL NOT OPEN ANY NET NEW STORES DURING THE YEAR
*WE ARE CONTINUING COMPREHENSIVE ASSESSMENT OF POUNDLAND TO RECOVER TRADING AND GET BUSINESS BACK TO ITS CORE STRENGTHS
*THAT INCLUDES UNDERTAKING THOROUGH ASSESSMENT OF ALL COSTS ACROSS BUSINESS, AS WELL AS EVALUATING ITS OVERALL COMPETITIVE POSITIONING
*WE WILL UPDATE ON GROUP’S STRATEGIC PLANS AT CAPITAL MARKETS DAY THAT WILL BE HELD ON MARCH 6
((Reuters Investor Briefs; email: reutersinvestor.briefs@thomsonreuters.com))
Source Date/Time = 16-JAN-202505:55:22.183 GMT