Mothercare losses widen to £21.5m

Mothercare has seen its full year losses widen
// Mothercare witnesses full-year loss after Covid-19 impacted trading in all markets
// In the year to March 27, the company’s statutory loss grew to £21.5m
// Turnover was down by 47.9% to £85.8m during the period

Mothercare has seen its full year losses widen after the Covid-19 pandemic affected trading in each of its markets across the globe.

In the year to March 27, the maternity retailer’s statutory loss grew to £21.5 million from £8.5 million in the previous year.

Meanwhile, turnover declined by 47.9 per cent to £85.8 million.

READ MORE: Mothercare forecasts “small” profit despite 40% sales drop

International retail sales by franchise partners were also down, declining to £358.6 million from a previous £542.1 million.

“The past financial year has clearly been a challenging one,” Mothercare chairman Clive Whiley said.

“However, despite the backdrop of the pandemic, we have made a tremendous amount of progress in fundamentally transforming the group.

“We expect 2022 to be a year of further progress as we focus upon developing our strategy and future plans to optimise the Mothercare brand globally over the next five years.

“These are exciting times as, notwithstanding the continued impact of the pandemic in many of our franchise partners territories, without the distractions of the last three years we are seeking to accelerate the growth of the business and the Mothercare brand.”

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