Mothercare to accelerate UK store closure plan

Analysts expect retailer to announce that it is stepping up the restructure.
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The Financial Times has reported that analysts expect Mothercare to take its number of stores down to around 200 in the UK following a strategic review.

The announcement has been expected on April 12th, but JPMorgan Cazenove, joint broker to Mothercare, said on Tuesday that the outcome of the review would now be revealed in May, when the company announces its full-year results.

This would also allow new Chairman Simon Calver's input into the review, as he does not take up the role until the end of April.

Peter Smedley, analyst at Charles Stanley Securities, said: “The 266 store target was set before the start of the review. With the ongoing pressures on Mothercare’s core market, it would be logical for this to be accelerated, with about 200 stores a reasonable number.”

Mothercare declined to comment on any aspect of the strategic review.

To read the full story, head over to the Financial Times.

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