Connecting to LinkedIn...

Mothercare results remain strong despite international fall

W1siziisijiwmtuvmtavmjivmdkvmdmvmzgvndmzl21vdghlcmnhcmuuanbnil0swyjwiiwidgh1bwiilci2mdb4ndawxhuwmdnlil1d

Global children's retailer Mothercare remains on track for its full year expectations after another successful quarter to 10 October.  

UK like-for-like sales grew by 6.5% due to an increase of online sales by 20.4% and the continuation of the retailer’s end of season sale into the second quarter. The store’s international business also benefitted with the opening of 11 stores, ending the period with 1,310 stores, 3m square foot of physical retail space.  

Further, international sales rose 5.6% on a constant currency basis, however, on actual currencies the chain reported a fall of 5.3%.  

Mark Newton-Jones, Chief Executive of Mothercare, said: "In the UK our digital strategy resulted in strong double-digit growth of online sales, which in turn contributed to the growth in like-for-like sales. 

Our improved and exclusive product ranges in Home & Travel and Clothing & Footwear are supporting our full price trading approach. As a result we were able to go into our end-of-season-sale with less products at discount and so were able to delay the start of the sale until the second quarter."  

Newton- Jones added: "The second quarter results are in line with our full year expectations. The UK is continuing to benefit from our strategic initiatives both online and in store, while International has seen the expected improvement in trading. 

 These results give us further confidence in our strategy, but there is much more to be done. Our vision remains clear - to be the leading global retailer for parents and young children. 

With Christmas now quickly approaching we are gearing up to our peak trading period." 

Published on Thursday 22 October by Talya Misiri

Articles similar to Mothercare

Articles similar to Financial results

comments powered by Disqus