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

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.
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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.

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