Crawshaw Group PLC Trading update (3620Q)
November 29 2016 - 2:01AM
UK Regulatory
TIDMCRAW
RNS Number : 3620Q
Crawshaw Group PLC
29 November 2016
29 November 2016
Crawshaw Group Plc
("Crawshaw" or "the Group")
Trading Update:
Crawshaw Group plc ("Crawshaw" or the "Group") (AIM: CRAW), the
fresh meat and food-to-go retailer, notes the recent movement in
its share price and confirm the Group continues to trade in line
with management expectation.
We have made good progress restoring sales momentum since our
last trading update on 29 September 2016. Our renewed value-led
product and marketing focus, together with a return to localised
ranging, is beginning to work, resulting in a good progression in
customer numbers and sales performance. The LFL sales performance
of the Group has improved from -15.8% for the first 7 weeks of H2
to -8.1% for the 4 weeks ended 27 November 2016 driven by a 13%
improvement in customer numbers across the same time period.
We expect the rate of improvement in LFL sales to further
improve in December as our returning customer's trade across the
breadth of our seasonal offer and our existing customers benefit
from better value Christmas meat hampers and redeeming their
savings club cards.
The Board are confident in the actions taken so far and are
encouraged by the early improvements in sales, but note the
importance of this progress being maintained through the key winter
and festive period to deliver full year profit expectations.
In the period since our last update we have opened our 50(th)
store, in the Gorton area of Manchester. This is our second
standalone factory shop concept to open in the year and is
currently trading in line with expectations.
Crawshaw will announce a trading update on 6 January 2017.
Noel Collett, CEO comments;
"We are encouraged by the customer reaction to the changes we've
made to the proposition and are confident sales will continue to
improve through the important winter and festive period. Our store
teams are set to give our customers a great Christmas which will
provide the platform to further restore sales momentum in the New
Year"
Enquiries:
Crawshaw Group plc
Noel Collett, Alan Richardson 01709 369 600
Peel Hunt LLP
Dan Webster, Adrian Trimmings, George Sellar 020 7418 8900
This information is provided by RNS
The company news service from the London Stock Exchange
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