RNS Number:3269A
Retail Corporation PLC
23 August 2002


                           THE RETAIL CORPORATION PLC
                           AND SUBSIDIARY UNDERTAKING 
  (The entire Ordinary Share Capital of the Company is held by Sears Limited)


                                 INTERIM REPORT

         Profit and Loss Account for the six months ended 31 July 2002


                                                             2002         2001
                                                              #m           #m

TURNOVER                                                       -            -

                                                         

OPERATING RESULT                                               -            -

Profit on disposal of properties                               -          3.4

Net interest payable                                           -            -

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION                                                -          3.4

Taxation                                                       -            -

                                                        

PROFIT AFTER TAXATION                                          -          3.4


Dividends on preference shares                              (0.4)        (0.3)

                                                        
Attributable to equity shareholders                         (0.4)         3.1

Dividends on ordinary shares                              (449.0)           -
                                                      
(DEDUCTED FROM)/ADDED TO RESERVES                         (449.4)         3.1



                        THE RETAIL CORPORATION PLC
                        AND SUBSIDIARY UNDERTAKING 
(The entire Ordinary Share Capital of the Company is held by Sears Limited)


                              INTERIM REPORT

                        Balance Sheet as at 31 July 2002



                                                             2002         2001
                                                              #m           #m


CURRENT ASSETS
 Debtors                                                   141.5        224.0

CURRENT LIABILITIES
 Creditors                                                     -        (56.1)

NET CURRENT ASSETS                                         141.5        167.9

PROVISION FOR LIABILITIES AND CHARGES                       (0.1)        (0.1)

TOTAL ASSETS                                               141.4        167.8


CAPITAL AND RESERVES
 Called up Share Capital (including non equity interests)   130.5       130.5
 Profit and Loss account                                     10.9        37.3

SHAREHOLDERS' FUNDS (including non equity interests)        141.4       167.8

NOTES

1.  The Interim Report has been drawn up under the same accounting policies
    as those used for the Annual Report and Accounts for 2001/02.  The report
    does not constitute statutory accounts and the figures are unaudited.

2.  The company has taken advantage of the exemption provided in FRS1 and has 
    not produced a Cashflow Statement.  The Company is a wholly owned 
    subsidiary of Sears Limited which in turn is a wholly owned subsidiary
    of January Investments Limited whose financial statements include a
    consolidated Cashflow Statement dealing with the cash flows of the group.

3.  A copy of this Interim Report will be posted to shareholders and copies
    will be available from the secretary The Retail Corporation plc, 
    Fourth Floor, Euston House, 132 Hampstead Road, London NW1 2PS.


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

END
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