Financial Overview

Key performance indicators

We monitor our performance against the strategies by reference to a limited number of key indicators:

Like-for-like sales growth – calculated as this year’s sales divided by last year’s sales for all stores that are at least 12 months old at the beginning of our financial year. Stores closed during the year are excluded from both years. No account is taken of changes to store size or the introduction of third party concessions.

Gross margins – gross profit as a percentage of sales.

Store numbers and store space – the number of stores trading and their gross area, including both selling and warehouse space. Space occupied by sublet tenants is excluded.

Underlying operating margins

– operating profit, excluding profits/losses on property disposals and other non-recurring items, as a percentage of sales.

Below is an overview of our financial performance for the last full reported financial year. More detailed information is available in the 5 year summary.