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
Working capital improvements start to pay off, but more could be donemore ..
Amazon today slashed the price of its three-month-old Fire Phone to 99 cents, an obvious bid to boost slow sales.more ..
App use grows by 162 percent during World Cup periodmore ..
The acquisition aims to boost Samsung's business-to-business mobile offeringsmore ..
Outdated finance processes, systems and competencies leave too many questions unansweredmore ..
CFOs are keen for the chancellor to avoid any uncertaintymore ..