Yoox Net-A-Porter Group’ 2017 First Quarter Trading Statement Presentation Released To The Public

Milan, Italy, 2017-May-08 — /EPR Retail News/ — YOOX NET-A-PORTER GROUP S.p.A. (MTA: YNAP), the world’s leading online luxury fashion retailer, hereby informs that YNAP’s 2017 First Quarter Trading Statement Prsentation is available to the public on the Company’s website at www.ynap.com (Investor Relations Section / Results Centre / Presentations) at www.ynap.com/pages/investor-relations/results-centre/presentation/2017.

YOOX NET-A-PORTER GROUP

YOOX NET-A-PORTER GROUP is the world’s leading online luxury fashion retailer. The Group is a Global company with Anglo-Italian roots, the result of a game-changing merger, which in October 2015, brought together YOOX GROUP and THE NET -A-PORTER GROUP; the two companies had revolutionized the luxury fashion industry since their birth in 2000.

YOOX NET-A-PORTER GROUP is a unique business with an unrivalled offering including multi-brand in-season online stores NET-A-PORTER and MR PORTER, and multi-brand off-season online stores YOOX and THE OUTNET, as well as numerous ONLINE FLAGSHIP STORES, all “Powered by YNAP”. Through a joint venture established in 2012, YOOX NET -APORTER GROUP has partnered with Kering to manage the ONLINE FLAGSHIP STORES of several of the French group’s luxury brands.

In 2016, YOOX NET-A-PORTER GROUP joined forces with Symphony, an entity controlled by Mohamed Alabbar’s family, to establish a ground-breaking joint venture to create the Middle East’s undisputed leader for online luxury retail.

Uniquely positioned in the high growth online luxury sector, YOOX NET-A-PORTER GROUP has an unrivalled client base of more than 2.9 million high-spending customers, 29 million monthly unique visitors worldwide and combined 2016 net revenues of €1.9 billion. The Group has offices and operations in the United States, Europe, Japan, China and Hong Kong and delivers to more than 180 countries around the world. YOOX NET-A-PORTER GROUP is listed on the Milan Stock Exchange as YNAP.

For further information: www.ynap.com.

Analyst/Investor contacts:
Silvia Scagnelli
Corporate Development & Investor Relations Director
T: +39 02 83112811
investor.relations@ynap.com

Media contacts:
Finsbury Edward Simpkins, James Thompson, Benita Barretto
T: +44 (0) 207 251 3801
ynap@finsbury.com

Image Building
Giuliana Paoletti, Simona Raffaelli
T +39 02 89011300 ynap@imagebuilding.it

Source: YOOX NET-A-PORTER GROUP

Home Retail Group publishes trading statement covering the 13 weeks from 28 February to 28 May 2016

Milton Keynes, UK, 2016-Jun-09 — /EPR Retail News/ — Home Retail Group, the UK’s leading home and general merchandise retailer, today publishes a trading statement covering the 13 weeks from 28 February to 28 May 2016.

John Walden, Chief Executive of Home Retail Group, commented:

“I am pleased with our performance in the first quarter. Argos delivered good total sales growth together with positive like-for-like growth, representing its strongest sales growth performance in eight quarters.  This was achieved against the challenging backdrop of constrained seasonal product sales due to poor weather, on top of a deflationary pricing environment.

“Many of the digital capabilities we are building, as we pursue the Transformation Plan to reinvent Argos as a digital retail leader, are positively impacting our business. Internet sales grew 16% during the quarter, which is our strongest quarterly digital sales growth for over three years.  Digital sales accounted for almost 50% of total Argos sales in the quarter, including mobile commerce which now represents almost 30% of sales.  Argos’ customer experiences overall improved in the quarter, aided by Fast Track, a market-leading national proposition for both same-day home delivery and store collection.  Fast Track continues to build momentum and is achieving leading levels of customer satisfaction.

“Finally, we remain on track to complete the proposed transaction with Sainsbury’s in the third quarter of this calendar year.  Given the natural distraction that a transaction such as this can be for our colleagues, on top of the recent sale of Homebase, I am particularly pleased with our performance in the quarter.”

Q1
(13 weeks to
28 May 2016)
Argos
Sales £868m
Like-for-like sales change 0.1%
Net space sales change 2.5%
Total sales change 2.6%
Gross margin movement  Down c.100bps

Total sales at Argos grew by 2.6% to £868m.  Net new space contributed 2.5%, mainly as a result of store openings in the previous financial year.  There were two closures of digital concessions within Homebase stores in the quarter, reducing the store estate to 843.  Like-for-like sales increased by 0.1% in the quarter, however the cannibalisation impact from the new space added in the previous financial year was around 1% and therefore Argos’ underlying like-for-like sales increased by approximately 1%.

Sales grew in both electrical and non-electrical product categories during the quarter, with the growth in electricals principally attributable to the performance of TVs, mobiles, computers and tablets, partially offset by a sales decline in white goods.  The growth in sales of non-electrical products was largely driven by furniture and general sports, partially offset by weaker sales of seasonal products.

Internet sales grew by 16% in the quarter and represented 49% of total Argos sales, up from 44% for the same quarter last year.  Within this, mobile commerce sales grew by 17% to represent 29% of total Argos sales, up from 25% in the same quarter last year.

The approximate 100 basis point gross margin decline was principally driven by the anticipated impact of adverse currency and shipping costs and an adverse sales mix impact mainly attributable to the improved performance of margin dilutive electrical products.

Financial Services customer redress

In the course of implementing its new governance and risk management procedures, the Group’s Financial Services division identified that it had erroneously collected excess fees in relation to the late payment of amounts due from certain customers.  The Group took advice on this matter and based upon this advice it booked a charge in its FY16 financial statements.  The Group has subsequently been advised that a more extensive customer redress programme will now be required.  A detailed review exercise will now be undertaken, however a preliminary estimate has been prepared, which indicates that the existing customer redress provision may need to be increased by an amount in the region of £30m.

There will be a conference call for analysts and investors to discuss this statement at 8.30am this morning.  The call can be accessed as a live webcast on the Home Retail Group website www.homeretailgroup.com.  An indexed replay will also be available on the website later in the day.

Disclosure requirements of the City Code on Takeovers and Mergers (the “Code”)

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4). Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made, can be found in the Disclosure Table on the Panel’s website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel’s Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

Rule 26.1 disclosure

A copy of this announcement will be available on Home Retail Group’s website at www.homeretailgroup.com/investor-centre by no later than 12 noon (London) time on 10 June 2016.

The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

Further information
This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of Home Retail Group or any of its affiliates in any jurisdiction or an inducement to enter into investment activity.

Information in this announcement is based upon unaudited management accounts.  In addition, certain statements made are forward looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results referred to in these forward looking statements.

Forward looking statements typically include words such as “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “estimates”, “projects” or words or terms of similar substance or the negative thereof.  All statements other than statements of historical facts included in this announcement may be forward looking statements. Except as required by law, Home Retail Group undertakes no obligation publicly to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Enquiries:

Analysts and investors (Home Retail Group)
Richard Ashton, Finance Director 01908 600 291
Mark Willis, Director of Investor Relations

Media (RLM Finsbury)
Rollo Head, 020 7251 3801

Sainsbury’s Chief Executive Mike Coupe: We have traded well during the festive period in a highly competitive market

LONDON, 2016-01-13 — /EPR Retail News/ — Good sales performance with like-for-like volume and transaction growth

  • Total Retail sales for third quarter up 0.8 per cent (excl fuel), down 0.7 per cent (inc fuel)
  • Like-for-like Retail sales for third quarter down 0.4 per cent (excl fuel), down 1.8 per cent (inc fuel)
  • Over 30 million customer transactions in the seven days before Christmas (up 2.6 per cent year-on-year)

Mike Coupe, Chief Executive, said: “We have traded well during the festive period in a highly competitive market. Our stores delivered excellent levels of service and availability and we launched several new seasonal products and range improvements. As a result we have seen our market share grow in the quarter.

Customers continued to enjoy our Christmas classics. We sold over 17,000 Golden Bow Rich Fruit Cakes and over 550,000 Cognac Laced Christmas Puddings. Both of these centrepieces won Good Housekeeping taste tests. Customers also embraced our innovative products such as our Salted Maple & Pecan Pudding and our new sparkling alternative to Prosecco – Pignoletto. We launched our new Taste the Difference wines in time for Christmas which were well received and contributed to sales growth of over 18 per cent across the range. Our programme to invest in the quality of over 3,000 products remains on track.

We reduced our levels of vouchering and promotional participation year-on-year. We also reduced the number of multi-buys in favour of lower regular prices, continuing our commitment to simplify prices and promotions. Our continued investment in quality, price and service drove like-for-like transaction and volume growth year-on-year.

Our colleagues continue to deliver brilliant customer service. During the quarter we won seven out of 12 weeks of the Grocer 33 Service & Availability award. This reflects a fantastic effort by our colleagues, particularly over the Christmas trading period where stores are at their busiest.

We opened 16 convenience stores in the quarter and had our biggest ever day for convenience sales on 24 December. Groceries online sales grew at nearly ten per cent and orders by 15 per cent.  We had a record week in the quarter, delivering over 289,000 online orders. We now have 101 Click and Collect sites nationwide.

General Merchandise achieved good sales growth of five per cent in the quarter and clothing nearly six per cent, despite the unseasonal weather impact. Sainsbury’s Bank also delivered good performance with 11 per cent volume growth in loans and 29 per cent growth in travel money transactions.

Our Christmas advertising campaign Mog’s Christmas Calamity was a huge success, with nearly 37 million online views and the exclusive Mog’s Christmas Calamity book topping the UK bestselling book charts for four consecutive weeks. The charitable donation from the sales of the Mog’s Christmas Calamity book and soft toy, on behalf of Sainsbury’s, Judith Kerr and HarperCollins Children’s Books totalled more than £1.5m and will be donated to support Save the Children’s work to improve child literacy in the UK.

Given our good performance in this quarter, we now expect our like-for-like sales in the second half of the year to be better than the first. Food deflation and pressures on pricing will ensure that the market remains challenging for the foreseeable future. We will continue to remain competitive on price and our performance this quarter provides further evidence that our strategy is working.”

Notes to editors

1. All sales figures contained in this trading statement are stated including VAT and in accordance with IFRIC 13

2. Like-for-like sales include the impact of extensions as follows

Q1 Q2 H1 Q3
Retail sales growth excluding fuel
Total (0.6)% 0.3% (0.1)% 0.8%
Like-for-like (2.1)% (1.1)% (1.6)% (0.4)%
Retail sales growth including fuel (%)
Total (2.3)% (1.8)% (2.0)% (0.7)%
Like-for-like (3.7)% (3.3)% (3.5)% (1.8)%
Included in like-for-like sales (%)
Net contribution from extensions 0.1% 0.1% 0.1% 0.0%

3. Store investment programme 2015/16:

Q1 Q2 H1 Q3
Supermarkets
New 1 1 2 1
Replacements 1 1 2
Extensions
Refurbishments 4 4 2
Closures (1) (1) (2)
Convenience
New 10 27 37 16
Closures (3) (3)
Refurbishments 4 4

At the end of the quarter, we had 600 supermarkets and 757 convenience stores.

4. Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from any expected future events or results referred to in these forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

5. Sainsbury’s also released today its Third Quarter Corporate Responsibility update. This is avaliable at: www.j-sainsbury.co.uk/investor-centre/results-and-presentations/

6. A conference call will take place at 8:30am.  To listen to the audio webcast we recommend that you register in advance.  To do so please visit www.j-sainsbury.co.uk prior to the event and follow the on-screen instructions.  To view the transcript of the conference call go to www.j-sainsbury.co.uk and follow the on-screen instructions in the third quarter trading statement section

7. On 5 January 2016 the company released an RNS in relation to a possible offer for Home Retail Group Plc. A presentation outlining an overview of the strategic rationale for the combination can be found at: http://www.j-sainsbury.co.uk/investor-centre/home-retail-offer/

8. Sainsbury’s will announce its Fourth Quarter Trading Statement on 15 March 2016

SOURCE: J Sainsbury plc

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Sainsbury’s Chief Executive Mike Coupe: We have traded well during the festive period in a highly competitive market

Sainsbury’s Chief Executive Mike Coupe: We have traded well during the festive period in a highly competitive market