Thursday 15th January 2009

CLINTON CARDS PLC

Christmas Trading Update

Clinton Cards PLC, the UK's largest specialist greetings card retailer, today reports on trading performance for the Christmas and year to date periods for its Clinton Cards and Birthdays brands.

Like for like sales in the five weeks to 4th January 2009 showed an improvement in the sales trend with the Clinton brand 4.1% lower and the Birthdays brand 3.9% lower. As a result, Group like for like sales for the same period were 4.1% lower.

Like for like sales in the 23 weeks to 11th January 2009 were 6.2% lower in the Clinton brand and 4.1% lower in the Birthdays brand. As a result, Group like for like sales for the same period were 5.7% lower.

Since the beginning of the financial period in August, we have opened 15 new stores and disposed of 26 loss making stores resulting in 1,039 stores trading currently. This comprises 695 Clinton stores and 344 Birthdays stores.

On 15 December 2008 the Company made its fourth scheduled loan repayment of £12m and the fifth and final instalment of £12m will be repaid in December 2009. 

Don Lewin, Chairman commented that 'Christmas spend did start later than expected but in a difficult and unpredictable market both brands held up relatively well with only a small amount of planned promotional activity'.

ENDS

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