Moss Bros and struggling maternity retailer Mothercare have dropped out of the FTSE 100 following its quarterly reshuffle.
The London Stock Exchange announced yesterday that both Mothercare, which has seen its share prices drop 48 per cent this year, and Moss Bros, which has also seen share prices dip 46 per cent, have fallen out of the list of the UK’s largest 100 companies.
This is likely to have a knock-on negative effect on the companies’ stock values, as funds that track the top 100 companies are forced to sell their stocks.
Mothercare’s full year results ending March 24 featured £72.8 million in pre-tax loss, compared to a £7.1 million profit in 2016/17.
It attributed the loss to a raft of restructuring and closure costs, as well as store asset impairments and onerous leases.
In March, menswear retailer Moss Bros warned that profits for the year to January 26 would now be “materially lower” than previously reported, sending share values plummeting nearly 30 per cent.
Though it welcomed an improvement in trading in its first quarter, it was not enough to boost its share prices.