Mothercare enjoys jump in worldwide sales

“The UK has returned to underlying profit in the second half of the year for the first time in six years.”
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Mothercare is enjoying a jump in worldwide sales, up by 6.3 per cent to £1.2bn for the full year to March 25th 2017.

Clothing and footwear sales have made up 31.8 per cent of UK sales, and 65.7 per cent of international sales.

Meanwhile, UK like for like sales were up by 1.1 per cent, while the UK reduced losses by 31 per cent to £35.2m.

The results have been positive for the retailer that is now in its third year of its turnaround.

“I am very pleased to report that we have continued to make good progress, despite some challenging conditions in the past year,” said chief executive, Mark Newton-Jones.

“The UK has returned to underlying profit in the second half of the year for the first time in six years.”

In the UK, Mothercare has closed unprofitable stores, transitioned the store portfolio to two thirds out of town and one third in town, and 70 per cent of its UK store estate is now refurbished in the new club format.

Mothercare now has an ‘agile store estate’ with an average lease length of five years.

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