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Theo Fennell PLC (TFL)

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Friday 11 January, 2013

Theo Fennell PLC

Trading update

RNS Number : 3171V
Theo Fennell PLC
11 January 2013
 



11 January 2013

 

THEO FENNELL PLC

("Theo Fennell" or "the Company")

 

Christmas Trading Statement

 

The Board of Theo Fennell PLC, the AIM listed jeweller, today announces a Christmas trading update.

 

Christmas Trading

 

The Company experienced a disappointing Christmas trading period due to a challenging UK consumer market, an uncertain economic environment and a lack of footfall to the stores.   

 

As a result of weak Christmas trading, full year results for the year ending 31st March 2013 will be materially below management expectations.  However the cost savings that the Company is making will help mitigate losses for the full year.

 

2013 Outlook and Strategy

 

International wholesale sales have risen substantially for the financial year to date and the Company is planning to further develop its international wholesale presence in the coming year. Following strong internet sales over Christmas, the Board is also planning to grow the brand's online presence and further increase online sales.

 

Whilst the ongoing uncertain economic environment has impacted the Company's sales in the short term, the Board remains positive about the long term prospects for the business.

 

Enquiries:


Theo Fennell Plc

Theo Fennell

Tel: 020 7591 5000

Pelham Bell Pottinger

James Henderson

Lucy Miles

    Tel: 020 7861 3885

Seymour Pierce Limited

Mark Percy/ Catherine Leftley (Corporate Finance)

Katie Ratner (Corporate Broking)

Opus Corporate Finance                       

Malcolm Strang / John McElroy (Rule 3 advisor)

 

Tel: 020 7107 8000

 

 

Tel: 0207 025 3600

 

DISCLAIMER

Opus Corporate Finance LLP ("Opus") which is regulated in the United Kingdom by The Financial Services Authority is acting for the Company in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of Opus or for providing advice in relation to the matters described in this announcement.

Seymour Pierce Limited ("Seymour Pierce") which is regulated in the United Kingdom by The Financial Services Authority is acting for the Company in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of Seymour Pierce or for providing advice in relation to the matters described in this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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