Thursday, October 19, 2017

Mothercare descends into losses amid “challenging” conditions

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Mothercare has reported major profit losses as poor weather and a warehouse renovation eat into margins.

In the six months to October 28 the retailer posted £800,000 bottom-line losses compared to profits of £5.8 million in the prior year.

Like for like sales fell by 0.7 per cent, and underlying pre-tax profits fell by 15.7 per cent to £5.9 million in the same period.

Despite significant losses, Mothercare has remained positive, stating it was confident that its turnaround project was moving forward.


READ MORE: Mothercare unveils revamped website


Mothercare chief executive Mark Newton-Jones said: “The last six months have been challenging.

“While conditions in the first half have been challenging, the second half has started in line with our plans and the business is well prepared for the important peak season.

“We expect to make further progress in the second half, which will partially compensate for the effect of the headwinds experienced in first half.”

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