TIDMCC.

RNS Number : 9891Y

Clinton Cards PLC

06 January 2011

6 January 2011

CLINTON CARDS PLC

Christmas Trading Update

Clinton Cards PLC, the UK's market leading greetings card retailer, today reports on its trading performance for the Christmas period to 2 January 2011.

 
                                                       Store Nos. 
                                                           at 
 Like for Like       5 weeks to        22 weeks to      2 January 
  Sales             2 January 2011    2 January 2011      2011 
----------------  ----------------  ----------------  ----------- 
 Clintons          (2.0%)            (2.9%)            649 
 Birthdays UK      (1.5%)            (0.6%)            161 
----------------  ----------------  ----------------  ----------- 
 Total UK          (2.0%)            (2.6%)            810 
 Birthdays Eire    (12.2%)           (13.6%)           14 
----------------  ----------------  ----------------  ----------- 
 Total Group       (2.1%)            (2.8%)            824 
----------------  ----------------  ----------------  -----------

Despite stable margins and costs remaining in line with budget, the year to date sales shortfall leads the Board to expect pre-tax profits in respect of the year to 31st July 2011 to be significantly lower than current market expectations.

Don Lewin, Chairman commented: "Whilst the impact of such adverse weather conditions in the weeks building up to Christmas is very disappointing, the Board remains confident in the strategic initiatives it is taking in the rebranding and redesign of its store portfolio and the imminent launch of the new website."

ENDS

Enquiries:

Clinton Cards PLC 020 8502 3711

Don Lewin, OBE, Chairman

Clinton Lewin, Group Managing Director

Paul Salador, Group Finance Director

Weber Shandwick Financial 020 7067 0700

Nick Oborne / Nick Dibden / Clare Thomas

This information is provided by RNS

The company news service from the London Stock Exchange

END

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