Mothercare sees first profit in five years as UK business enjoys 3.6 per cent growth

The retailer has seen pre-tax profit for the year to March 26th jump to £9.7 million compared to a loss of £13.1 million last year.
Author:
Publish date:
mothercarelogo.gif

Infant and baby products retailer Mothercare has reported its first profit in five years thanks to an up lift in online trading.

The retailer has seen pre-tax profit for the year to March 26th jump to £9.7 million compared to a loss of £13.1 million last year.

While UK like-for-like sales increased by 3.6 per cent with online sales rising 15 per cent on the previous year, the BBC highlights that Mothercare’s UK business still reported an underlying loss of £6.4 million compared with a deficit of £18 million last year.

“The results highlight the significant progress we are making towards returning the UK to profitability,” said Mothercare chief executive, Mark Newton-Jones.

“The look and feel of the store estate are driving like-for-like sales growth for a second consecutive year.”

The company has said that nearly 40 per cent of its UK stores have ow been revamped, a driving force for the company’s UK growth.

Related

5_Pocoyo.jpg

UK trade sees five per cent growth

End of year figures from NPD show that the UK market experienced healthy growth of five per cent during 2006 although, despite strong product, Christmas sales failed to increase on last year.

Featured Jobs

GAMEPLAN LOGO 3D hi res

Marketing Director UK

Gameplan I Southeast of England I Salary: Competitive I Date Published Monday 7th January 2019

Rainbow logo landscape_home of classic Final

Product Manager

Rainbow Designs Ltd I Olympia, London I Salary: Competitive I Date Published Wednesday 16th January 2019