20GL Hsbc Bk. 24

RNS Number:5916N
Retail Corporation PLC
10 July 2000

                       THE RETAIL CORPORATION PLC

(The entire Ordinary share capital of the Company is held by Sears Limited,
                           formerly Sears plc)

                          PRELIMINARY RESULTS
                  FOR THE YEAR ENDED 31st JANUARY 2000

                                        Notes      1999/2000    1998/99
                                                     #m           #m

TURNOVER
Discontinued operations                              -           36.6

Cost of sales                                        -             -

Gross profit                                         -           36.6

Distribution costs                                  0.3          (6.7)

Administrative expenses                             0.7         (19.2)

TRADING PROFIT
Discontinued operations                  1          1.0          10.7

Profit on sale of businesses             2         27.8          13.4

Profit/(loss) on disposal of properties             1.7          (1.3)

PROFIT ON ORDINARY ACTIVITIES BEFORE
INTEREST                                           30.5          22.8

Net interest payable                               (0.1)        (30.5)

PROFIT/(LOSS) ON ORDINARY ACTIVITIES
BEFORE TAXATION                                    30.4          (7.7)

Tax (charge)/credit on ordinary activities         (9.4)          8.3

PROFIT FOR THE FINANCIAL YEAR                      21.0           0.6

Dividends on preference shares                     (0.7)         (0.5)

ATTRIBUTABLE TO EQUITY SHAREHOLDERS                20.3           0.1

Dividends on Ordinary shares                      (37.8)        (75.0)

TRANSFERRED FROM RESERVES                         (17.5)        (74.9)


NOTES

1.  The trading results reflect the wind down of the Footwear business.

2.  During the year the Group received #14.1 million of additional 
    consideration in respect of the sale by Sears Limited of Creation           
   Financial Services Limited.  In respect of the Footwear business
    the Group received #5.1 million of deferred consideration previously
    written off, income of #3.8 million from the Facia Limited administration
    and released surplus provisions and accruals of #3.5 million.  In 
    addition the Group has released #1.3 million of surplus accruals in
    respect of other business disposals.

The preliminary statement of results for 1999/2000 is an abridged version of the
Company's audited full accounts and has been agreed with the Company's auditors.
 The statutory accounts will be filed with the Registrar of Companies in due
course.

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