7 January 2020 – trading update

The company has issued a trading update covering the 22 weeks to 5 January with like-for-like sales excluding fuel falling by 1.7%.  The group experienced challenging trading conditions during the period with customers remaining cautious ahead of the General Election.  The group has recently sold its Camden store and eight acre surrounding site to Berkeley Group for £120m and the group closed four underperforming stores during the period as well as opening the same number (including two replacements).  The group expects profits for the year to 31 January 2020 to be in line with expectations and the shares remain a BUY.