John Lewis Of Hungerford PLC Showroom closures (8618G)

TIDMJLH

RNS Number : 8618G

John Lewis Of Hungerford PLC

11 August 2016

John Lewis of Hungerford plc

Showroom closures

John Lewis of Hungerford plc announces that following a review of its trading estate it has decided to close its showrooms in Harrogate and Tunbridge Wells.

The decision reflects the Board's assessment of the prospects for each showroom taking into account their recent financial performance. For Tunbridge Wells, this is materially below the performance of all our other showrooms. For the Harrogate Showroom, the Board believe that the average sales performance of the showroom does not warrant the costs associated with supporting a showroom in the North. We continue to trade nationally with a more mobile sales team. This allows the business to focus on the South of England which supports our drive for improved operational efficiencies. Both showrooms are expected to cease trading by the end of December 2016. The two showrooms contributed sales, in aggregate, of GBP370,000 in the last full financial year. Costs associated with both closures will be accrued in the current year and are expected to be in the region of GBP100k.

 
 Enquiries: 
 
 John Lewis of Hungerford plc                    01235 774300 
 Ken McNaught, Chairman 
 
                                                 0117 376 
 Smith & Williamson Corporate Finance Limited     2213 
 Martyn Fraser

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

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August 11, 2016 02:00 ET (06:00 GMT)

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