Friday, August 12, 2022

Mothercare improving in the UK

Mothercare, which is part-way through a turnaround, is making headway in the UK, but global currency headwinds and weakening consumer confidence hit its fourth quarter sales.

The parent and child specialist said that all international markets, the Middle East, Asia, Europe and Latin America, saw a reduction in both constant and actual currency sales. 

Things are looking sunnier in the domestic market, with this being the eight consecutive quarter of like-for-like sales growth and online sales growing by 5.6%.

Overall, the group reported worldwide sales were down 6.7% for the fourth quarter, with total group sales up 1.4%.

“In the year ahead, we expect to make further progress in the UK, said CEO Mark Newton-Jones. “However, our international markets are likely to remain challenging with the current trends in space, sales and curreny continuing into the new financial year. 

Nevertheless we remain firmly focused on our strategy to build our business both in the UK and internationally and our vision remains clear – to be the leading global retailer for parents and young children.”


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