Mothercare improves in Q1 - ToyNews

Mothercare improves in Q1

Mothercare has reported a 4.1 per cent increase in first quarter sales.
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UK like for like sales grew 1.6 per cent, helped by the UK direct business, with direct in home sales up by 17.2 per cent during the 15 weeks to 13th July. The firm says the positive results are down to improvements in product, sourcing, stores and distribution.

“Our UK business is showing steady growth and our International and Direct businesses have both performed strongly,” said chairman Ian Peacock in his AGM statement.

International sales grew 20.9 per cent in the quarter. A joint venture with China’s Goodbaby is expected to see three trial stores in Beijing and Shanghai open in spring 2008.

"Although it is early days, we are pleased with the progress that has been made to date on the integration of the Mothercare and Early Learning Centre businesses, and we are delighted to have brought together two of the strongest parenting brands in the UK," said Peacock.

A pre-close statement for the 28 weeks to 13 October is expected on 18 October ahead of the interims on 22 November.

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