Mothercare’s UK business continues to suffer
International childcare products retailer reports another sales dip
By CFOWorld.co.uk staff | CFO UK | Published 10:57, 17 January 13
International childcare and clothing retailer Mothercare has reported another decline in sales at its UK High Street stores.
In a trading update on Thursday, Mothercare said total group sales in the 13 weeks to 12 January fell 7.4 percent from a year ago. However in the UK, the drop was 12.9 percent. Removing the effects of the closure of 11 UK stores, the dip in sales came in at 5.9 percent.
Away from the British market, Mothercare’s international sales rose 14.8 percent over the corresponding period. This helped mitigate the effect of a poor UK performance on the entire group.
Unsurprisingly, the sentiment is reflected in new store openings and the closure of existing outlets. While Mothercare has shuttered 11 UK stores in the last three months, 31 new stores were opened outside the UK.
"We have made solid progress in the last quarter, despite a challenging consumer backdrop for the UK and Eurozone," said chief executive Simon Calver.
In year-over-year terms, Mothercare currently has 269 stores in UK, compared with 311 in April 2012.
Share:Facebook Twitter Google Plus Stumble Upon Reddit Share This Email this article
CFOs are keen for the chancellor to avoid any uncertaintymore ..
Annual loss the worst in its 150 year historymore ..
However, company missed analysts' expectation as ad prices slidmore ..
Coffee chain says move reflects growing importance of UK marketmore ..
CFOs used to low interest rates ignore working capital optimisation at their perilmore ..
Concur shows CFOs how to make life easier when the auditors come knockingmore ..