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19/12/2001
Littlewoods reduce losses in first half report
UK retailer Littlewoods has announced they are making good progress in reviving the business as the company revealed a reduction in losses for the first half of the year.
The company posted a loss of £9.9m for the six months to October 31, down from a loss of £34.2m for the same period the previous year.
Sales for the half-year rose 4 per cent to £898.3m, while sales at their high street stores climbed 5 per cent compared to last year.
Chief Executive Alistair McGeorge commented: "We are greatly encouraged that the steps taken to restore business performance are delivering results. With further operational efficiencies planned in the second half of the year, together with a greater focus on full price sales and margins, Littlewoods is on-track to record a significant improvement in operating profits for the financial year." (GB)
The company posted a loss of £9.9m for the six months to October 31, down from a loss of £34.2m for the same period the previous year.
Sales for the half-year rose 4 per cent to £898.3m, while sales at their high street stores climbed 5 per cent compared to last year.
Chief Executive Alistair McGeorge commented: "We are greatly encouraged that the steps taken to restore business performance are delivering results. With further operational efficiencies planned in the second half of the year, together with a greater focus on full price sales and margins, Littlewoods is on-track to record a significant improvement in operating profits for the financial year." (GB)
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
