MOTHERCARE: Sales buck gloom

Mothercare's latest set of financials show sales up nearly 20 per cent.
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Total UK sales were up 19.5 per cent, down 1.3% on a proforma basis due to the reduction of space from the implementation of the group's property strategy.

International franchisee like-for-like sales grew nine per cent while international franchisee retail sales increased by 50.4 per cent.

Chairman, Ian Peacock, commented: "We are pleased to report a positive first quarter performance for the Mothercare group, reflecting the strength of the Mothercare and Early Learning Centre brands in the UK and around the world.

"The multi-channel UK business has shown resilience in a slow economic environment, strengthened by the successful Direct operations. The integration of the Early Learning Centre and the reshaping of the combined property portfolio are both progressing well. The International business goes from strength to strength, driven by strong franchisee like-for-like sales and 32 new store openings, including the opening of our first store in China in the quarter."


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